India to release 5 million barrels of crude oil from strategic reserves on US request

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As reported yesterday, India plans to release about 5 million barrels of crude oil from its emergency stockpile in tandem with the US, Japan and other major economies to cool international oil prices.  This is the first time ever that India, which stores 5.33 million tonnes or about 38 million barrels of crude oil in […]

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U.S. asks China, India and other countries to use oil from their strategic reserves to get back at OPEC

Governments from some of the world’s biggest economies said last week they were planning to release oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices and ahead of a meeting of major oil producing countries. The Biden administration has asked big oil […]

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Struggling with power crunch, India considers strategic reserves for gas, imported coal

India is considering maintaining strategic reserves of natural gas and imported coal like the country’s strategic petroleum reserves, to address future supply shocks, as the energy hungry nation battles a crippling coal shortage. A surge in power demand combined with a fall in imports due to high global coal prices have led to supply disruptions […]

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