India is likely to increase its purchases of U.S. oil and gas after U.S. President Donald Trump's announcement to maximise U.S. oil and gas production.

Oil Minister Hardeep Singh Puri discusses potential increase in US energy supply to India amid global oil market dynamics.

President Donald Trump launched a sweeping overhaul of US energy policy hours after taking office Monday, putting the weight of the federal government behind fossil-fuel production and pulling back from the fight against climate change.

India expects its purchase of U.S. energy products to increase after President Donald Trump's announcement to maximise U.S. oil and gas production, said Oil Minister Hardeep Singh Puri in a meeting on Tuesday.

Trump said In his inaugural address that the US has "the largest amount of oil and gas of any country on Earth, and we are going to use it."

U.S. crude oil was down $1.89, or 2.4%, to $75.99 per barrel by 8:29 a.m. ET, while global benchmark Brent fell $1.30, or 1.6%, to $78.89 per barrel. Trump said after his inaugura

India has welcomed US President Donald Trump's commitment to boosting domestic oil and gas production and exporting energy globally, as outlined during his inaugural address after assuming office, media reports said.

India may increase purchases of US oil and gas following US President Donald Trump's announcement to maximize US oil and gas production, Indian Oil Minister Hardeep Singh Puri said. “There is a possibility of more energy purchase between India and US.