India's import bill pressured as Brent crude maintains premium from Houthi risks
GS3Economy · S&T · Environment · Security· External sector, trade & FDI· Prelims·
Geopolitical risks and maritime chokepoints: a GS3 case study on energy security and current account deficit.
Why in news
Brent crude prices are maintaining a geopolitical premium due to supply risks in the Strait of Hormuz and Red Sea caused by Houthi forces.
Background
India imported 5.26 million barrels of oil per day in September. Brent crude prices are currently pressured by a stronger US dollar and prices exceeding $100 per barrel.
Facts for Prelims
- FactIndia's oil import volume in September: 5.26 million barrels per day
- FactBrent crude price threshold mentioned: above $100 per barrel
- FactIndia's oil procurement reach: 41 countries
Prelims practice question
How many countries does India currently reach for its oil procurement?
- (a)35
- (b)41
- (c)62
- (d)50
Show answer
Answer: (b) 41 — The note states that India's oil procurement reach extends to 41 countries.
For Mains
Q. Analyze the impact of geopolitical instability in the Middle East on India's energy security and its current account deficit.
Dimensions to cover in your answer
- Currency volatility: Impact of a stronger US dollar on the cost of dollar-denominated energy imports
- Supply chain diversification: Balancing procurement from 41 countries against concentrated maritime chokepoint risks
Keywords: Geopolitical premium · Energy security · Current account deficit · Maritime chokepoints · Import bill
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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.