Ministry of Petroleum & Natural Gas
azadi ka amrit mahotsav g20-india-2023

India welcomes the announcement by the IEA for collective oil stock release of 120 million barrels

Posted On: 07 APR 2022 9:20PM by PIB Delhi

Government of India welcomes the announcement by the International Energy Agency for collective oil stock release of 120 million barrels. Government of India has also taken note of the US Government's decision, late last month, to release 180 million barrels from its Strategic Petroleum Reserves, over the next 6 months, to calm rising global fuel prices.

In the interest of collaborating with like minded countries on these positive initiatives, Government of India is examining what it can do to support these actions.

As a major consumer of energy, India has consistently espoused the importance of stable, affordable and accessible global energy markets. Government of India, therefore, hopes that these initiatives will bring equanimity to global energy markets.

YB/RM



(Release ID: 1814624) Visitor Counter : 1108


Read this release in: Urdu , Hindi , Punjabi