crude oil
The fire of war between America and Iran has flared up again. During the NATO summit held in Turkey’s capital Ankara, US President Donald Trump said that what happened with Iran Ceasefire agreement now ends are done. He also made it clear that America no longer desires any new agreement with Iran. According to Trump, America’s main goal is to completely destroy Iran’s nuclear program. Earlier, the US Army had carried out air strikes on more than 80 military bases of Iran. America says that this action was taken in response to the attacks on ships in the Strait of Hormuz.
Due to this recent tension in the international market Sharp rise in crude oil prices Has come. In the international market, the price of Brent crude increased by about 6 percent and crossed $ 78 per barrel. At the same time, WTI crude was also seen trading above $ 74.47 per barrel with a rise of about 5.8 percent. Due to the latest conflict between America and Iran, the oil crisis in the world may deepen once again and oil prices may reach sky high.
Meanwhile, the question arises that if the oil crisis deepens again, what is India’s preparation? How many days of oil is left with India and how much reserves do the rest of the world have?
How many days of oil does India have?
According to a report released by commodity intelligence firm Kpler on July 3, 2026, India’s crude oil reserves have reached the highest level in almost a year. The biggest reason for this is that India has imported record quantity of crude oil in the month of June. According to the report, by the end of June, the total crude oil stock present in India’s strategic reserves, commercial storage and refineries had increased to 104 million barrels. At present, the total capacity of India’s underground strategic petroleum reserves is 53.3 lakh metric tons. This is equivalent to about 39 million barrels of crude oil, which can meet India’s oil needs for only about 8 days. According to the report, India consumes about 50 lakh barrels of oil every day. In such a situation, India’s need for about 21 days can be met with 104 million barrels of crude oil.
Who has how much oil?
Strategic Petroleum Reserves (SPR): According to the report of Angel One, 5.33 million metric tonnes of crude oil is safe in the underground caves built in Visakhapatnam, Mangalore and Padur under the Indian Strategic Petroleum Reserves Limited (ISPRL), which meets the requirement of about 9.5 to 12 days.
Commercial and Refinery Stock: According to another media report, about 50-60 days of commercial stock of oil and petroleum products (petrol, diesel, ATF) is always in rolling mode in the country’s oil refineries and depots.
How many days of oil reserves do big countries have?
According to Al Jazeera’s report in March, China has the world’s largest strategic oil reserves. Although China does not release official figures, according to energy analysis company Vortexa, its onshore crude oil reserves were expected to reach about 1.13 billion barrels by the end of 2025. At the same time, America has government strategic oil reserves of 415 million barrels. Japan has emergency oil reserves of about 470 million barrels, which can meet its domestic needs for 254 days. Apart from this, Britain has a strategic reserve of about 38 million barrels of crude oil and 30 million barrels of refined petroleum products, which is capable of meeting the country’s needs for about 90 days.
Also read- This is how the oil game changed due to Iran-America war, this is the timeline from February till now
