{"id":450678,"date":"2021-11-20T10:40:51","date_gmt":"2021-11-20T05:10:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=450678"},"modified":"2021-11-20T10:40:51","modified_gmt":"2021-11-20T05:10:51","slug":"india-says-no-use-as-us-asks-asian-giants-to-tap-oil-reserves","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/india-says-no-use-as-us-asks-asian-giants-to-tap-oil-reserves\/","title":{"rendered":"India says &#8216;no use&#8217; as US asks Asian giants to tap oil reserves"},"content":{"rendered":"<p>NEW DELHI: Oil prices slipped below their seven-year highs of $80 a barrel on Thursday after reports from Washington said the US has sought a co-ordinated release of strategic crude reserves by India, China, Japan and South Korea with a view to taming prices, a move New Delhi said was futile as it would have little impact.<br \/>\n\u201cStrategic oil reserves weren\u2019t ever intended for a situation like this\u2026 It\u2019s for a force majeure situation, if there\u2019s an earthquake, a global outbreak of hostilities, and oil supplies are shut,\u201d India\u2019s oil minister Hardeep Singh Puri told Bloomberg TV on Wednesday when the news broke.<br \/>\nStill, global benchmark Brent slipped below $80 a barrel-mark for the first time in six weeks as mounting worries over rising Covid cases in Europe and predictions of a warmer winter weighed. Words on China preparing to sell some of its reserves to domestic refiners added to the downward pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Oil prices slipped below their seven-year highs of $80 a barrel on Thursday after reports from Washington said the US has sought a co-ordinated release of strategic crude reserves by India, China, Japan and South Korea with a view to taming prices, a move New Delhi said was futile as it would have little impact. \u201cStrategic oil reserves weren\u2019t ever intended for a situation like this\u2026 It\u2019s for a force majeure situation, if there\u2019s an earthquake, a global outbreak of hostilities, and oil supplies are shut,\u201d India\u2019s oil minister Hardeep Singh Puri told Bloomberg TV on Wednesday when [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-450678","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/450678","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=450678"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/450678\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=450678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=450678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=450678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}