India’s reliance on crude oil imports has increased to 87.5% in the first nine months of FY24, as consumption of fuels and other petroleum products increased while domestic oil production largely remained flat.
As per the latest data from the petroleum ministry, India’s reliance on crude oil imports in the first nine months of 2023-24 (FY24) is 87.5 per cent from 87 per cent in the corresponding April-December period of the last fiscal.
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