DAVOS. Switzerland (Reuters) – Hardeep Singh Puri of India, the Oil Minister said Tuesday at the World Economic Forum in Davos, that a crude oil price of $110 per barrel is not feasible, given the global energy crisis.

After Russia’s invasion in Ukraine, oil prices rose this year. They reached $139 per barrel in March, their highest level since 2008. [O/R]

While countries all over the globe struggle to cope with inflation’s impact on their disposable income, India’s Commerce Minister PiyushGoyal stated on the WEF panel that South Asian food inflation was “manageable”.

Goyal stated that India produces enough wheat for domestic consumption. However, some countries have problems getting their grain from Ukraine after Russia invaded.