India Taps Domestic LPG Supplies Amid Middle East Conflict

India has taken steps to secure its domestic liquefied petroleum gas (LPG) supply by mandating oil companies to increase production in response to the ongoing conflict in the Middle East. This move aims to reduce reliance on imports, which account for about 60% of India's consumption.

The directive is driven by concerns over potential disruptions in supply routes through the Gulf and the Strait of Hormuz, prompting a focus on domestic production and diversification of supply sources, including increased U.S. imports.

This development comes amid wider geopolitical tensions that have implications for global oil markets, with some observers suggesting it could influence the odds of crude oil reaching a new all-time high by the end of 2026.