India will release 5 million barrels of oil from strategic reserves. see details here

New Delhi: India Will release 5 million barrels of oil from its strategic reserves in coordination with other buyers including the United States, China, Japan and South Korea, a government statement said on Tuesday.

The move is part of a coordinated release of stockpiles led by US President Joe Biden, seen as a warning to OPEC+ to pump more oil to tackle rising inflation in major economies such as the United States, China and others. goes.

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