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Strategic Petroleum Reserve Latest News

The government official said the release from India's strategic petroleum reserve (SPR) was "a symbolic gesture" as it needed to create space as part of efforts to make money from renting out the storage and was already selling the oil.

India's Release Of 5 Million Barrels Oil From Stockpile A 'Symbolic Gesture'

India, the world's third-biggest oil importer and consumer that imports over 80% of its oil needs, is mirroring a model adopted by countries such as Japan and South Korea in its commercialisation of its Strategic Petroleum Reserves (SPRs).

India Starts Selling Oil From Strategic Reserves After Policy Shift

Fuel demand also climbed last month to its highest since April as pandemic restrictions and lockdowns were unwound in most states.

India Refiners' July Crude Processing Catches Up With Demand Rebound

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