India, China set up joint working group to tackle crude volatility
New Delhi: India and China, two most sought-after customers of the Organization of the Petroleum Exporting Countries (Opec), have put in place a mechanism to figure out ways to fight crude oil volatility and teamed up for other energy issues in global markets.
The two countries have set up a joint working group that would identify subjects of cooperation in the energy sector, including ways to rein in global oil prices. The group, set up a month ago, will be co-chaired by a joint secretary in the oil ministry and his Chinese counterpart.
