Cheap oil should be used in reserves in India

According to sources, saudi oil prices low Saudi Arabia and the United Arab Emirates could be taken advantage of by India, which plans to fill its strategic reserves in times of crisis.

According to reports, the Ministry of Petroleum of India sent a request to the Ministry of Finance for the release of about 48 billion to 50 billion rupees (US$673.7 million) for the purchase of through eight or nine large-capacity tankers, with the to fill indian reserves.

Because of the coronavirus scenario worldwide, the demand for by oil has caused global prices to fall by 40% this month, while supply has only increased after Russia refused to make deeper cuts in its proposed by the Organization of Petroleum Exporting Countries (OPEC) and allies, the Opec+ group.

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