India plans to take advantage of low prices for oil from Saudi Arabia and the Un...
NEW DELHI - India plans to take advantage of low prices for oil from Saudi Arabia and the United Arab Emirates to top up its strategic petroleum reserves , two sources familiar with the matter said on Monday.
Leading OPEC producers Saudi Arabia and Abu Dhabi have said they will increase output while cutting prices, giving big consumers the chance to fill up at discounted prices. Indian Strategic Petroleum Reserves Ltd and India’s oil and finance ministry had no immediate comment, while ADNOC and Saudi Aramco declined to comment.
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