Pradhan on OPEC: Requirements of consuming nations should be considered


Pradhan on OPEC: Requirements of consuming nations should be considered

Oil Minister Dharmendra Pradhan on Wednesday said that Organization of Petroleum Exporting Countries’ (OPEC’s) decision on production cuts should not be one-sided and emerging requirements of consuming countries such as India should be taken into account.

Speaking at an event here, Pradhan said that it is too early to react to the OPEC decision. He added that the government will now wait and watch.

Dharmendra Pradhan was speaking on the recent OPEC and non-OPEC allies’ decision to cut crude oil production by 1.2 million barrels per day, starting from January 2019 up to six months.

Pradhan said, “…Any form of rationing without any reason which causes sentiment issues or fear of scarcity… consuming countries like India get worried.” Read More

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