India: Choked Shipping Routes, Not Supply, Driving High Oil Prices

India's Oil Minister Hardeep Singh Puri stated that high oil prices stem from disrupted trade routes and elevated freight costs, not a supply shortage, citing global output of 104 million barrels per day. This signals India's view that geopolitical disruptions to shipping, likely in the Red Sea or Hormuz, are the key price driver. The claim is an official assessment, but the underlying route disruptions are not detailed in this item.