Indian Prime Minister Narendra Modi wants to buffer India from the global turmoil of oil prices. Easier said than done.
It's been a turbulent few days on international markets for oil investors. Yet while Saudi Arabian supply may be restored quickly, the attacks have raised questions that may impact the price of oil in the longer term.
The attacks on Saudi Arabia's oil production facilities could mean that a large chunk of its oil exports are sidelined for weeks. But the price spike that has followed may not last, as global demand has changed.
The Indian government wants to reduce the country's high dependence on energy imports by shifting to biodiesel made from used cooking oil. But experts remain skeptical that its production can be boosted rapidly.
The US Secretary of State Mike Pompeo described attacks on Saudi oil facilities as an "act of war" by Iran. Tehran has denied a role in the attacks and said a military strike against Iran would end in "all-out war."
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