India may join China in bid to lower oil prices ...News

Russia Today - Economy
India may join China in bid to lower oil prices
source : Russia Today ( News ) () 4
The world’s third-largest crude oil importer, India, could join China in tapping into its strategic petroleum reserve in a bid to sell lower-priced crude to its refiners amid rallying international oil prices. India is reportedly considering selling half of its SPR to attract private participation in expanding its strategic storage capacity, government sources told Reuters last week. The sale of crude from reserves could also be a move from one of the importers most sensitive to price hikes to reduce the price of crude for its refiners, Reuters columnist Clyde Russell says. India’s SPR currently holds around 36.5 million barrels of cru

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