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Pakistan says it has no strategic oil reserves, stocks for five-to-seven days
Pakistan's petroleum minister Ali Pervaiz Malik said the country lacks strategic oil reserves and relies on commercial stockpiles, with crude reserves totaling five to seven days. The comments come as global oil prices climb to about $126 per barrel amid disruptions in the Strait of Hormuz and ongoing Middle East tensions.
Why It Matters
The admission highlights Pakistan's vulnerability to global oil price fluctuations and energy security challenges, with potential implications for policy and economics.
Timeline
1 Event
Pakistan minister says no strategic oil reserves; stocks reportedly 5-7 days
May 2, 2026
In an interview with Samaa TV, Pakistan's petroleum minister Ali Pervaiz Malik stated that Pakistan does not have strategic oil reserves and relies on commercial reserves, with crude stocks reportedly enough for only five to seven days. He contrasted Pakistan's position with India, which he said can access larger reserves with a single signature. The remarks came as global crude prices rose to about $126 per barrel amid disruptions in the Strait of Hormuz and ongoing Middle East tensions.