India’s Modi set to ask visiting Saudi prince for cheaper oil


India’s Modi set to ask visiting Saudi prince for cheaper oil

India is likely to seek cooperation in obtaining cheaper energy when Saudi Arabia’s Crown Prince Mohammed bin Salman visits the nation on Feb. 19-20. This will be the crown prince’s first visit to the region since the murder of Saudi journalist Jamal Khashoggi in the Saudi consulate in Turkey in October.

Prince Salman’s suspected involvement in the incident has caused controversy around the world. But it is unlikely that the issue of Khashoggi’s murder will be discussed during Prince Salman’s visit to New Delhi.

Instead, the issue of the so-called “Asian premium” — the extra charge on oil levied on countries in the region by the Organization of the Petroluem Exporting Countries, of which Saudi Arabia is a founding member — that Indian Prime Minister Narendra Modi is expected to discuss.

New Delhi pays an additional $2 to $3 per barrel of oil and seeks to do away with it. Modi and the prince are due to meet on Feb. 20. Read More

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