The world’s third-largest crude oil importer, India, could join China in tapping into its strategic petroleum reserve in a bid to sell lower-priced crude to its refiners amid rallying international oil prices. India is reportedly considering selling half of its SPR to attract private participation in expanding its strategic storage capacity, government sources told Reuters last week. The sale of crude from reserves could also be a move from one of the importers most sensitive to price hikes to reduce the price of crude for its refiners, Reuters columnist Clyde Russell says . India’s SPR currently holds around 36.5 million barrels of crude oil. India has been the most vocal critic of the OPEC+ production reduction pact this year, saying that it does not support “artificial cuts to keep the price going up.” On several occasions, India’s top officials have criticized OPEC+ for keeping the market tight and prices […]