India Warns OPEC Against Further Oil Production Cuts – Petroleum Minister


India Warns OPEC Against Further Oil Production Cuts – Petroleum Minister

India is calling on the Organisation of the Petroleum Exporting Countries (OPEC) to abstain from imposing new oil production cuts, as it believes that the move could affect consumers’ interests, Petroleum and Natural Gas Minister Dharmendra Pradhan said in an interview.

“OPEC should also [be] looking at consumer’s interest. In the era of technology and … alternative fuels, we are convinced oil is going to play a bigger role and a longer role in the energy need of the world, but prices should be reasonable and very responsible. To fulfil that expectation, don’t go for a further cut. Make the prices very reasonable”, Pradhan said.

India is calling on the organisation to appreciate the changing global technological level and ensure reasonable oil prices, which would be beneficial both for consumers and for producers, the minister stressed. Read More

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