India may create its 1st overseas crude oil reserves in the US

Petroleum Minister Dharmendra Pradhan has said the country is in advanced talks for storing crude oil in the US Strategic Petroleum Reserve to increase India's strategic oil stockpile. This would be the first time India, the world's third-biggest oil consumer, is creating emergency reserves abroad. In May, Pradhan said India had already filled its 38 million barrels of strategic storage.