Govt relaxed about OPEC+ cutting oil output, says oil minister Puri
India’s oil minister said the country isn’t concerned about OPEC+’s output cuts and Saudi Arabia’s recent decision not to expand production capacity.
“There is enough oil in the world and new suppliers are coming in,” Hardeep Singh Puri said on the sidelines of India Energy Week in Goa. “You decide, you want to sell it or you want to keep it in the ground.”
The world’s third-biggest oil importer behind China and the US, India is set to be the single largest source of global oil demand growth between now and 2030 thanks to a booming economy, growing middle class and youthful demographics, according to the International Energy Agency.
