India blames Saudi oil output cut for surge in oil prices
India, the world’s third biggest oil importer and consumer, on Tuesday complained that recent output cuts by some OPEC nations had created uncertainty for customers and led to a surge in prices.
Top exporter Saudi Arabia has pledged additional voluntary output cuts of 1 million barrels per day (bpd) in February and March under a deal between the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+.
