Petroleum Minister Ali Pervaiz Malik has admitted that Pakistan lacks even a day’s worth of strategic petrol reserves, as oil prices climb to $126 per barrel — the highest since 2022 — amid ongoing shipping disruptions in the Strait of Hormuz
Amid last year’s tariff war, US President Donald Trump took a jab at India, saying Washington would partner with Pakistan — New Delhi’s arch-rival — to develop its “massive oil reserves,” adding, “Who knows, maybe they’ll be selling oil to India someday!”
Months later, Pakistan has acknowledged its vulnerability to the current global oil shock, admitting it lacks “strategic oil reserves like India,” which have helped New Delhi cushion the impact of rising crude prices triggered by the West Asia conflict.
Months later, Pakistan has acknowledged its vulnerability to the current global oil shock, admitting it lacks “strategic oil reserves like India,” which have helped New Delhi cushion the impact of rising crude prices triggered by the West Asia conflict.