Скачать или смотреть India Rejects G7 Call To Release Strategic Oil Reserves | Fuel Prices Stable? | Business News

Amid rising global oil prices and geopolitical tensions, India will not release crude oil from its strategic petroleum reserves at the request of G7 nations, according to government sources.

The decision comes as energy markets remain volatile following tensions in West Asia.

Sources say that petrol and diesel prices are unlikely to be increased immediately, as oil marketing companies (OMCs) currently have a sufficient buffer to absorb short-term volatility in crude prices.

India’s strategic oil reserves are managed by the Indian Strategic Petroleum Reserves Limited, which stores emergency crude supplies to handle global supply disruptions.

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