Oil Above Tolerance Threshold, End Asian Premium: India To OPEC


Oil Above Tolerance Threshold, End Asian Premium: India To OPEC

India on Thursday reiterated its call to end the Asian Premium on oil being charged by OPEC producers and said prices have risen beyond the threshold that can be sustained by the world.

At a meeting here with ambassadors of the Organisation of Petroleum Exporting Countries (OPEC), Petroleum Minister Dharmendra Pradhan said market fundamentals do not support such high prices and impressed on the need for OPEC governments to move towards responsible pricing, according to a Petroleum Ministry release here.

“Minister Pradhan expressed his concern about rising crude oil prices and its negative impact on consumers across the world. He emphasized that globally crude prices have gone beyond the threshold which can be sustained by the world. Read More

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