India jointly with the United States will hit oil prices

Bloomberg: India joins US plan and sells 5 million barrels of oil oil from strategic reserves. Thus, it will join the US plan to jointly hit raw material prices, Bloomberg writes, citing a source familiar with the situation.

The volume itself is insignificant – half of the country's daily consumption, but the Indian authorities are ready for further tranches, pointed out another interlocutor of the publication. The current decision is symbolic in nature as a warning to traders. Indian oil will be sold directly to refineries.