Reuters first to report India starts selling oil from strategic reserves after policy shift

Reuters broke the news that India has begun selling oil from its Strategic Petroleum Reserve (SPR) to state-run refiners as it implements a new policy to commercialize its federal storage by leasing out space. India is gradually releasing 8 million barrels from the SPRs after last month changing its policy to allow it to lease 30% of its overall 37 million barrels capacity to Indian and foreign companies.