Petroleum Minister Hardeep Singh Puri on Friday said continuing high international oil prices will hurt the global economic recovery as he made a renewed pitch to Saudi Arabia and other OPEC producers to not keep production levels artificially lower.
He described India alongside the US, Japan and Korea releasing oil stock from its emergency stockpile as a very bold move.
Earlier this week, India agreed to release 5 million barrels of crude oil from its strategic reserves as part of coordinated international efforts to cool oil prices. The US announced the release of 50 million barrels.
