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India Emphasizes That Shipping Chaos, Not Supply, Is Driving High Oil Prices
India’s oil minister says disrupted trade routes and soaring freight costs, rather than an outright lack of crude, are keeping oil prices elevated and increasing India’s import costs.
Oil prices are high not because the world is short on oil but because the trade routes have been severely disrupted, driving up freight and other costs, India’s Oil Minister Hardeep Singh Puri said.
“There's no supply shortage in the world. The world... [1852 chars]
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