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Q.

Choose the given statement is true or false:


Countries like India depend on importing oil from abroad because they do not have enough stocks of their own.


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a

True

b

False  

answer is A.

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Detailed Solution

The given statement is true.
The main reason why India and many other countries import oil is that they don’t have enough stock of their own. India is the second largest crude oil importer and imports most of its oil needs from Russia, Iraq, and Saudi Arabia. Crude oil production is limited to only a few countries, particularly the Middle East, the USA, and Russia.
 
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