Energy security has evolved to become strategically important for countries, such that the domestic availability of energy resources, coupled with the national energy demand, as well as import and export dependencies on energy resources, have important implications for a country’s economic growth, human development and strategic autonomy. This is especially important for India, which is heavily dependent on imports to meet its domestic energy demand.
The West Asian Crisis and Oil Price Expectations
As concerns over a potential conflict in the region grow, the pressing issue of what a conflict would mean for the price of international crude oil needs to be addressed urgently.