Consider the following about India's oil scenario
1. India is one of the largest oil importer in the world
2. India exports petroleum products

Which of the above are correct?

1 only

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2 only

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Both 1 and 2

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None of the above

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Solution

The correct option is C Both 1 and 2
India was the third largest crude oil importer in the world in 2018. The country spent an estimated ₹8.81 lakh crore (US$120 billion) to import 228.6 million tonnes of crude oil in 2018–19. India exports petroleum products.

The petroleum products exported from India amounted to approximately 61 million metric tons during fiscal year 2019, down from about 66 million metric tons in the previous fiscal year.

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