Speaking to India Today’s Rajdeep Sardesai, Rajan said, “I think the important question is how long it lasts”, warning that even a short conflict has already caused disrupted energy for about 20% of the total production of energy sources across the world. “If you're trying to adjust to the fact that 15 to 20% of world energy sources are shut in, you have to have tremendous demand destruction,” he said, adding that “oil prices will be in the $150, $200 a barrel range.” “India simply cannot subsidise oil on a semi-permanent basis,” Rajan warned, arguing that if high prices persist, “the consumer will have to adjust, the farmer will have to adjust, producers will have to adjust.”
Author: March 23, 2026
Published at: 2026-03-23 00:00:00
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