Pakistan Oil Crisis: Amidst tensions in the Middle East, Pakistan is grappling with an oil crisis. Recently, Pakistan's Energy Minister Ali Malik stated that the country has only 5-7 days of crude oil reserves left.

Neighbouring countries yearn for oil amid the West Asia war

Pakistan Oil Crisis: Ongoing tensions in the Middle East have worsened the situation in many countries. Currently, Pakistan is grappling with a growing oil crisis and a high import bill. Recently, Pakistan's Energy Minister, Ali Malik, admitted that the country does not have any strategic petroleum reserves (SPR). He stated that Pakistan has only 5 to 7 days of crude oil reserves, while refined fuel stocks held by oil marketing companies can last approximately 20 to 21 days.

This statement comes at a time when Pakistan's Prime Minister Shahbaz Sharif stated that the country's oil import bill has risen sharply due to the Iran war. Previously, Pakistan imported approximately $300 million worth of oil each week, but now this figure has risen to $800 million per week. This represents an increase of approximately 167 percent.

Why is Pakistan comparing itself with India?

Referring to India's energy preparedness, Ali Malik said that Pakistan is not like India, which can immediately release oil from its reserves if needed. According to him, India has a strategic oil reserve of 60 to 70 days, which could provide relief in case of a supply crisis.

What is India doing differently?

India has taken several major steps in the last few years to strengthen its energy security.

Know the main points of India's strategy

• Strategic petroleum reserves were created.
• Also diversified the sources of oil imports.
• Reduced dependence on the Middle East.
• Also purchased oil on a large scale from Russia.
• Imports from Venezuela resumed in early 2026.

Due to all these steps, the prices of petrol and diesel in India remain stable despite the tension in the Middle East.

What impact will it have on LPG prices?

The price of 19-kg commercial LPG cylinders in India increased on April 1st. Prices have remained largely unchanged since then, demonstrating India's ability to maintain a balanced position amid global oil market volatility.

Pakistan formed a special task force.

To address the growing oil crisis, the Pakistani government has established a special task force to monitor oil supplies and review fuel prices daily. However, fuel consumption in Pakistan has declined slightly amid rising prices, indicating a decline in demand.

The impact of the Strait of Hormuz blockade

Tensions in the Middle East and the prolonged blockade of the Strait of Hormuz, one of the world's most important oil shipping routes, have impacted oil markets worldwide, pushing up global oil prices further on Thursday. Brent crude prices reached their highest level since 2022. Brent crude futures for June rose $1.91, or 1.62 percent, to $119.94 a barrel by 0057 GMT, while US West Texas Intermediate futures for June rose 63 cents, or 0.59 percent, to $107.51 a barrel.

Why is Pakistan increasing its mediation efforts?

Pakistan is attempting to mediate between the US and Iran amid the energy crisis and economic pressure. Shahbaz Sharif claimed that on April 11, Pakistan facilitated talks between the two countries that lasted approximately 21 hours.