New Delhi: India on Friday made a case for affordable oil prices at G20 energy ministers’ meeting, in the backdrop of the Organization of the Petroleum Exporting Countries-plus (Opec+) combine slashing production amid the Covid-19 pandemic.
This was articulated by India’s petroleum and natural gas minister Dharmendra Pradhan. India’s message comes at a time of Opec+, including Russia, agreeing to cut production by 10 million barrels per day (mbpd) under US pressure to prop up prices.
With Opec accounting for 80% of India’s crude oil imports, any production cut by the so called Opec plus arrangement impacts India’s energy security efforts in the short run.
