Engine Oil Demo

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Oil minister Dharmendra Pradhan and his Saudi counterpart have reviewed the global fuel markets at a time Riyadh is grappling with excess stocks of crude oil, having initiated a brutal output war with Russia that has seen crude prices crashing in the world markets to $25-per-barrel levels.

Even as its refiners have invoked the force majuere clause to stop importing crude, India needs assured supplies of LPG, whose demand has risen with the spread of the coronavirus .

Oil minister Dharmendra Pradhan in a tweet said he had discussed global oil market developments with Saudi energy minister Prince Abdulaziz bin Salman and Aramco’s chief executive Amin Nasser, as well, to ensure continued LPG supplies to India. “Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement,” Pradhan tweeted.

Indian refineries have cut production because of a slump in fuel demand resulting from an unprecedented nationwide lockdown that has shut businesses, suspended flights, stopped trains and driven most vehicles off the road.But the reduced output of refineries would result in lower output of LPG, whose demand has risen. India is relying on imports to keep supply lines going. Saudi Arabia not just supplies crude oil to India but also is its biggest LPG source.