India ready to tap national oil stocks further to tackle soaring prices

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NEW DELHI :India is prepared to release additional crude from its national stocks in support of efforts by other major oil importers to mitigate surging global prices, the government said on Saturday.India is the world's third biggest oil importer and consumer, shipping in 85per cent of its oil needs. The cou

NEW DELHI :India is prepared to release additional crude from its national stocks in support of efforts by other major oil importers to mitigate surging global prices, the government said on Saturday.

"India is committed to supporting initiatives for releases from strategic petroleum reserves to mitigate market volatility and calm the rise in crude oil prices," a government statement said.

 

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