Russia and Saudis see crude oil inventories falling after price dip

Russia and Saudis see crude oil inventories falling after price dip

Protesting against the government’s decision to revise petrol and diesel prices daily for consumers across the country from June 16, petrol pump owners in India have decided not to purchase fuel from OMCs.

The decision came in the wake of the successful pilot project, launched by state-owned petroleum companies, in five cities across the country — Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh.

According to a Business Standard report, even though the associations are not calling it a strike, they say that “no-purchase” means petrol pumps are likely to go dry when their stock gets over.

 

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Credit- The Economic Times

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