India not planning to release oil in coordination with IEA, source says

India said it is not planning to release oil reserves in coordination with the International Energy Agency and has no immediate plans to raise retail gasoline or diesel prices. The stance reduces the chance of India joining coordinated strategic crude releases and keeps domestic fuel prices stable, limiting near-term upward pressure on inflation and on global oil demand.

Analysis

India said it is not planning to release oil reserves in coordination with the International Energy Agency and has no immediate plans to raise retail gasoline or diesel prices. The stance reduces the chance of India joining coordinated strategic crude releases and keeps domestic fuel prices stable, limiting near-term upward pressure on inflation and on global oil demand.