India will flex its market muscle to secure better terms from Opec when ministers from the cartel of oil exporting countries, accounting for roughly 35% of global supplies, meet this week to discuss extending the production cut deal to prop up prices.
Oil minister Dharmendra Pradhan is expected to drive a hard bargain at the Opec ministerial meeting in Vienna on May 25 as the grouping finds itself on shaky ground in the face of a growing US fracking industry . “PM Narendra Modi has set India on a path of rapid and high growth. We need affordable and sustainable supply of energy to fuel this growth, to alleviate the lives of our poor. This presents a big opportunity for seller nations and we will certainly leverage our market size for better Read More…
Credit By: The Economic Times
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