South Asia and Beyond

India To Release Strategic Crude

India plans to release 5 million barrels of crude oil from its strategic reserves of 38 million barrels as part of a coordinated move with the U.S. to cool international oil prices. This is expected to be done over a week or 10 days. The strategic reserves are stored in underground caverns on the west and east coasts. The oil will be sold to Indian refiners.

Related