India to commence purchasing oil for strategic reserves

India to commence purchasing oil for strategic reserves

India is likely to fill up millions of barrels of Middle East crude oil on back of lower prices. The purchases are in line with global efforts to soothe the oil markets. The decision to accumulate the oil for reserves comes post the discussion of Indian oil minister with US & Saudi counterparts. India’s moves is similar to China which Last week, decided to purchase oil for its state reserve.

Milan
Milan
dan
dan 1 months

Really is the right idea for any country that can't produce a lot on their own. My first thought was they should have higher prioritys right now but that's just short minded thinking.

Altamash
Altamash 1 months

We need to ween off fossil fuels and also have sensible consumption of fossil fuels

Hannibal
Hannibal 1 months

Appreciate you India! My oil shares got a nice bump.

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