India says 'no use' as US asks Asian giants to tap oil reserves

Oil prices slipped below their seven-year highs of $80 a barrel on Thursday after reports from Washington said the US has sought a co-ordinated release of strategic crude reserves by India, China, Japan and South Korea with a view to taming prices, a move New Delhi said was futile as it would have little impact.

from Times of India https://timesofindia.indiatimes.com/business/india-business/india-says-no-use-as-us-asks-asian-giants-to-tap-oil-reserves/articleshow/87786446.cms>ab