{"id":375327,"date":"2020-09-25T12:20:42","date_gmt":"2020-09-25T06:50:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=375327"},"modified":"2020-09-25T13:28:09","modified_gmt":"2020-09-25T07:58:09","slug":"india-tops-up-strategic-reserves-with-cheaper-crude-saves-over-685m","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/india-tops-up-strategic-reserves-with-cheaper-crude-saves-over-685m\/","title":{"rendered":"India tops up strategic reserves with cheaper crude, saves over $685M"},"content":{"rendered":"<p>Taking advantage of low prices in major oil-producing centres in Saudi Arabia and UAE, India has filled up its strategic crude oil reserves to meet its energy needs in times of emergency and saved a neat $685.11 million in the process.<\/p>\n<p>It bought crude oil at an average price of $19 per barrel to fill its reserves in April and May when prices reached an all-time low while the US oil touched negative price levels in futures market.<\/p>\n<p>The state-funded reserves are meant to tide over short-term supply disruptions and will take care of India\u2019s oil needs for 9.5 days.<\/p>\n<p>The country was already holding half of its total 5.33 million tonnes oil reserves capacity when the government decided to take advantage of the low crude prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taking advantage of low prices in major oil-producing centres in Saudi Arabia and UAE, India has filled up its strategic crude oil reserves to meet its energy needs in times of emergency and saved a neat $685.11 million in the process. It bought crude oil at an average price of $19 per barrel to fill its reserves in April and May when prices reached an all-time low while the US oil touched negative price levels in futures market. The state-funded reserves are meant to tide over short-term supply disruptions and will take care of India\u2019s oil needs for 9.5 days. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,211,144],"tags":[],"class_list":["post-375327","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=375327"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375327\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=375327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=375327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=375327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}