Saudi Arabia assures India of no oil supply shortage: Minister

India, the world's third-largest oil consumer, will not face any supply disruption after a reduction in production at its No.2 supplier Saudi Arabia, Oil Minister Dharmendra Pradhan said.

"Following the attacks on the oil stablization centres of @Saudi_Aramco, top executives of Aramco have been contacted," he tweeted. "We have reviewed our overall crude oil supplies for the month of September with our OMCs. We are confident there would be no supply disruption to India. We are closely monitoring the evolving situation."

OMCs are oil marketing companies.

A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven oil prices to their highest level in nearly four months.

The attack has knocked out over half of Saudi Arabia's production as it cut 5.7 million barrels per day or over 5 per cent of the world's supply.

India imports 83 per cent of its oil needs. Saudi Arabia is its second-biggest supplier after Iraq. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil.