There are said to be ongoing tensions and violence in the Israel-Palestine region in the Middle East. Will the repercussions of this turmoil reach even India? Not too long ago, Russia’s invasion of Ukraine was said to send shockwaves through the global supply chain. And what could this Israel-Palestine conflict mean for Indian households? Maybe, it could threaten to disturb the balance of the global oil supply. In October 2023, there was said to be an impact of this growing maelstrom on the supply of crude oil. Crude oil is a fossil fuel that is said to serve as a raw material for many industries. In India, the primary use of crude oil in India is said to be for energy production. So, it could be used in oil refineries to produce gasoline, diesel and more. This is said to be used for transportation for cars, trucks and more. In India, the petrochemical industry is said to use raw materials derived from crude oil for items, like plastics, chemical solvents and synthetic rubber.
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