New Delhi, March 9 -- India has no plan to release oil reserves in coordination with the International Energy Agency (IEA), government sources said on Monday.

The sources said that India is unlikely to contribute from its strategic petroleum reserves in the G7 effort, "as our strategy is 'India First'".

International crude prices have surged amid the ongoing conflict in West Asia.

The Government had informed Parliament in March last year that it has, through a Special Purpose Vehicle called Indian Strategic Petroleum Reserve Limited (ISPRL), established Strategic Petroleum Reserves (SPR) facilities with total capacity of 5.33 Million Metric Tonnes (MMT) of crude oil at three locations namely - Vishakhapatnam (1.33 MMT), Mangaluru (1.5 ...