2026 energy shock becomes worst ever amid Strait of Hormuz closure fears
Updated
Updated · Mint · Apr 29
2026 energy shock becomes worst ever amid Strait of Hormuz closure fears
14 articles · Updated · Mint · Apr 29
The IMF has dropped a single global forecast, outlining growth of 3.1%, 2.5% or 2% and inflation from 4.4% to above 6%, depending on disruption length.
For India, every $10-a-barrel rise could add $14bn-$16bn to import costs, while the RBI sees 2026-27 inflation at 4.6% versus 2.1% in 2025-26.
The report says India is cushioned by a lower fiscal deficit and $703bn in reserves, but needs targeted subsidies and export-led industrial policy to absorb the shock.
Can India's crisis-driven export push create sustainable growth or just new economic vulnerabilities?
With oil reserves covering just 9.5 days, has India's energy security strategy fundamentally failed?
As the world pivots to renewables, will the US stance create a new fossil fuel-based geopolitical bloc?