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Monday
December 2021
10:26 AM IST
News Headlines
BWF World Tour Finals: Lakshya Sen collapses in semi-final against Viktor Axelsen        Multiply an IVF-tech startup launches is its AI-based platform that will replace conventional processes in IVF clinics        At least 31 people killed by terrorists' attack on bus in Mali        Former chief minister of undivided Andhra Pradesh Konijeti Rosaiah dies at 88        1,495 teachers in Kerala schools yet to get vaccinated        Fourth case of Omicron in India, 33-year-old Maharashtra man tests positive for new COVID-19 variant        Actor Brahma Mishra found dead at his residence in Mumbai        “Comeback King"-A short-film by KKR on Sunil Narine’s incredible journey as a cricketer        Honda sets up battery sharing service subsidiary in India        Record low birth rates in China        No travel bans imposed by India for Omicron: MEA        CPI(M) local leader hacked to death        Two confirmed cases of Omicron detected in Karnataka        BWF World Tour Finals: Sindhu makes winning start; Lakshya also through        Depositors of PMC Bank to get pre-Covid interest rate        Vaccinated California man first in US to test positive for Omicron        Kerala determined to prevent new HIV infections by 2025, says CM Pinarayi Vijayan        Doctors can’t be always blamed for negligence in deaths, says Supreme Court        Tourist inflow in J&K hit 7-year high in November: Govt        isl: Odisha come from behind to beat SC East Bengal in 10-goal thriller        
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Main News
India to release 5 mn barrels crude from strategic reserves
 
New Delhi, In the wake of volatile global crude prices and concerns around key oil producing nations keeping crude supply restricted against demand, India has decided to release 5 million barrels of crude oil from its strategic petroleum reserves. This release will happen in parallel and in consultation with other major global energy consumers including the USA, China, Japan and the Republic of Korea.

“India strongly believes that the pricing of liquid hydrocarbons should be reasonable, responsible and be determined by market forces. India has repeatedly expressed concern at supply of oil being artificially adjusted below demand levels by oil producing countries, leading to rising prices and negative attendant consequences,” an official statement said on Tuesday.

The Government has been consistently reviewing the high petroleum/diesel prices domestically and in a bid to control inflationary pressures, had reduced the central excise duty on petrol and diesel by Rs 5 and Rs 10 respectively on 3 November, 2021. It was followed by reduction in VAT on fuel by many state governments.

India’s decision follows American intent to release oil from the nation’s SPR in concert with several other countries. The move would be an unprecedented effort by major oil consumers to tame prices after OPEC+ countries rejected US calls to significantly boost production. China said it’s working to release some oil from its strategic reserves, days after the US invited it to participate in a joint sale.

The move is likely to pit the countries against the OPEC+ coalition led by Saudi Arabia and Russia for control over world oil markets and could prompt OPEC and its allies to re-evaluate plans for reviving oil supplies.


Fourth case of Omicron in India, 33-year-old Maharashtra man tests positive for new COVID-19 variant
Two confirmed cases of Omicron detected in Karnataka
Tourist inflow in J&K hit 7-year high in November: Govt
Farmer leader received call from govt to discuss MSP issue: Samyukt Kisan Morcha
Farm laws repeal the only business transacted on day one of Winter Session, multiple adjournments in both Houses
Omicron: India to review Covid SOP, countries impose travel curbs, and other key developments today
Train coaches catch fire at station in MP; passengers safe
Noida International Airport will be 'gateway to North India': PM
Air polltion: Beurecrats should talk to scientists and farmers to find a solution
President Kovind presents Gallantry Awards; Abhinandan receives Vir Chakra
SKM core committee decides to carry on with protests, demands that govt talks to farmers
PM announces repeal of Farm Laws, SKM remains cautious, mixed reactions from Opposition
India, China agree to hold next round of senior commanders meeting on border issue soon
Five militants killed in south Kashmir gunfights
CM Vijayan flays attempt to discredit KIIFB
Appoint nodal officer for implementation of Covid SOPs in child protection homes: SC to states
Top security officials of 7 countries call on PM Modi
Vice Admiral R Hari Kumar appointed as next Chief of Naval Staff
President confers Padma Awards for 2020
Mah hospital fire: Prez, PM condole loss of lives
KERALA NEWS
1,495 teachers in Kerala schools yet to get vaccinated
 Thiruvananthapuram: There are 1,707 teaching and non-teaching staff in government schools of Kerala  
CPI(M) local leader hacked to death
Kerala determined to prevent new HIV infections by 2025, says CM Pinarayi Vijayan
People not following Covid measures will not get free treatment: Pinarayi Vijayan
INTERNATIONAL NEWS
At least 31 people killed by terrorists' attack on bus in Mali
 Bamako: At least 31 people have been killed and eight more injured as a result of terrorists' attack
Record low birth rates in China
Vaccinated California man first in US to test positive for Omicron
US expresses concern over rights abuses in Afghanistan, asks Taliban to take necessary steps
NATIONAL NEWS
Former chief minister of undivided Andhra Pradesh Konijeti Rosaiah dies at 88
 Hyderabad: Former chief minister of undivided Andhra Pradesh and veteran Congress leader Konijeti Ro
No travel bans imposed by India for Omicron: MEA
Doctors can’t be always blamed for negligence in deaths, says Supreme Court
maharashtra: Quarantine mandatory for passengers coming from at-risk countries; RT-PCR must for those arriving from other states
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