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Energy

India poised to stockpile oil in exchange for IEA role

Move highlights efforts to stabilize global crude prices

Technicians walk next to an oil storage tank on the outskirts of Ahmedabad. India has sought membership in the International Energy Agency.   © Reuters

PARIS -- The International Energy Agency will consider requiring India to stockpile crude oil in exchange for involvement in the organization's decision-making, turning to an energy-hungry Asian nonmember to help stabilize global prices.

At a two-day ministerial meeting here, the IEA decided to give India "associate membership status."

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