What the Saudi putsch means for Indian oil

India's emergence as a major consumer and buyer from diverse sources could protect it from the political ructions in the kingdom, the world's largest producer

The broad smiles on the face of those present at the inauguration of Saudi Arabia’s state-owned oil company Aramco’s new office in Gurugram in October this year were for real. The massive purge within the Saudi royal family, Aramco’s owners, hadn’t begun. A month later, Crown Prince Mohammed bin Salman struck: more than 200 Saudi citizens were arrested, including 11 princes, on corruption charges. 

Is the world heading for another oil shock? The putsch certainly pumped up prices immediately. A disruption unprecedented in the history of the world’s largest oil producer had the potential to be deeply damaging for India,