India currently has sufficient energy reserves to avoid any immediate supply disruptions, Union Petroleum Minister Hardeep Singh Puri said on Tuesday, underlining the country’s preparedness amid global oil market volatility.



Addressing the CII Annual Business Summit 2026, Puri stated that India maintains around 60 days of crude oil and liquefied natural gas (LNG) reserves, along with 45 days of liquefied petroleum gas (LPG) stock. He noted that these levels are adequate to ensure uninterrupted domestic supply.



“We have 60 days of crude, which is the maximum we require. We also have 60 days of LNG and 45 days of LPG,” the minister said, emphasizing that India’s energy buffer remains robust despite fluctuations in global prices.



However, he acknowledged ongoing financial strain in the oil marketing sector, revealing that companies are incurring losses of nearly Rs 1,000 crore per day. Under-recoveries have reached Rs 1.98 lakh crore, while total losses are estimated at around Rs 1 lakh crore for the current quarter.



Puri added that India has used the crisis as an opportunity to boost domestic LPG production, increasing output from 36,000 metric tonnes per day to 54,000 metric tonnes per day.



He also pointed out that LPG demand has moderated from 90,000 metric tonnes to about 75,000 metric tonnes, partly due to seasonal factors, helping maintain balance in supply and demand.



Earlier, the Centre reiterated Narendra Modi’s appeal for citizens to reduce fuel consumption. People have been encouraged to use public transport, adopt carpooling, and shift toward electric vehicles and rail freight to ease pressure on energy demand.



Sujata Sharma, Joint Secretary at the Petroleum Ministry, assured that refineries are operating at optimal capacity and that there are no reports of fuel shortages. She noted that petrol, diesel, and LPG supplies remain steady, with over 1.26 crore LPG cylinders delivered in the past three days, exceeding bookings.



Meanwhile, global oil prices continued their upward trend, with Brent crude rising to $104.51 per barrel and US West Texas Intermediate reaching $98.38, reflecting ongoing pressure in international energy markets.