India Yet to Start Selling Oil Under Coordinated Move

The video discusses the government's decision to release 5 million barrels of crude oil in coordination with other countries. It examines the short-term impact on oil prices and OPEC's production plans. The speaker explains the leasing of strategic reserves and the interest from companies like MRPL and HPCL. India's current storage capacity and future expansion plans are outlined, including a public-private partnership for phase two. The potential impact of a new COVID-19 variant on oil demand is considered, with the belief that demand will remain stable due to mild infections and preparedness from the government.

What is the expected impact of the coordinated release of crude oil on oil prices?

• Short-term impact

• Short-term increase

• Long-term decrease

• No impact

Which two companies are involved in evacuating crude for leasing purposes?

• BPCL and IOCL

• ONGC and GAIL

• MRPL and HPCL

• Reliance and Essar

How many days of oil needs can India's current storage capacity cover?

• 74 days

• 48 days

• 64 days

• 9.5 days

What is the planned capacity for phase two of India's strategic oil storage?

• 39 million barrels

• 74 million barrels

• 48 million barrels

• 64 million barrels

What mode is being used for the expansion of India's strategic oil storage?

• Foreign investment

• Government-funded

• Private investment

• Public-private partnership

What is the expected impact of the new coronavirus variant on India's oil demand?

• Significant decrease

• Increase in demand

• No change

• Minimal impact

How prepared is India to handle the new coronavirus variant according to the discussion?

• Not prepared

• Moderately prepared

• Well prepared

• Uncertain