India’s Oil Minister Hardeep Singh Puri on Tuesday told the World Economic Forum that crude oil price of USD 110 a barrel was not sustainable, even as he courted the world’s oil leaders to discuss global energy markets. International oil prices spiked this year, hitting a near 14-year high of USD 140 a barrel in March, after Russia’s invasion of Ukraine exacerbated supply concerns. They have retreated but continue to be above USD 110 — a rate that is fueling inflation and impacting economic recovery in many parts of the world.
