Strategic Oil Reserves Topic: Geography Section: Economic Geography Context: The 31 Member Countries of the Governing Board of the International Energy Agency agreed to release 60 million barrels of oil from their emergency reserves to send a unified and strong message to global oil markets that there will be no shortfall in supplies […]

    Strategic Oil Reserves Subject – Economy Context – The Biden administration is considering tapping the US Strategic Petroleum Reserve (SPR) to cool oil prices in conjunction with other big consumers like China and India. Concept – Besides the United States, the other 29 member countries in the International Energy Agency (IEA), including the […]

    Strategic Oil Reserves Subject – Economy Context – India to sell half of Mangaluru strategic oil reserves by December Concept – India has started selling crude oil from its strategic reserves to state refiners with a view to soften the blow from surging global crude prices, while also creating space for leasing out […]