Oil and Gas Crises

India imports around 88% of it's crude oil of which around 60% comes from the Gulf regions. With this almost 40-50% transits through the Strait of Hormuz, the imports that come from Qatar for that Strait of Hormuz is the route. So this is a very crucial line of transport for India. And considering how the current situation is there is surely a challenge for India. The funny part is 1 day they will announce it is open and then in just few hours the opposition will announce it's closed. What is really happening, God only knows. Every few days we also keep hearing of ships getting bombed. Some times it is difficult to understand why are people hell bent on destruction.

Many countries are hit now with these crises. Some have reserves for weeks and some for months, but if this goes on then eventually everyone will be in dire situation. This is the largest oil and gas crises and shock that the world has faced in this generation. Almost 80% Asia's oil and gas needs were through shipments from the strait of Hormuz. But with this, Countries are waking up to find alternatives and not be heavily reliant on one source.

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India has rerouted to Russia for it's oil and gas supply, and now Russia is again the top supplier to India, there are other back-up options also created. Like it is said if one window closes the other doors will open up. The whole of Asia will not find their alternatives and have more channels opened up rather then just relying on one channel. No one in the world thought about this impact on Strait of Hormuz, possibly even Trump did not think of it before starting the war. Let's see now how long the Strait of Hormuz crises will go on and how it's going to keep impacting our day to day life resources.

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