India Emphasizes That Shipping Chaos, Not Supply, Is Driving High Oil Prices
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 has 104 million barrels of oil a day. It's only
Source: OilPrice.com
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DW NOTE
India is correct but incomplete. Hormuz has been closed for 27 days — one ship moved through on September 27 versus the normal 85 per day — and that is logistics collapse, not geology. But calling it "shipping chaos" implies accident or mismanagement. This is deliberate closure, Trump rejected Iran's ceasefire proposal six days ago, and the IEA now projects a 5.7 million barrel-per-day supply loss for 2026. India wants to frame the shortage as transitory friction rather than strategic blockade because the latter requires admitting they have no Plan B for Persian Gulf dependence.