India has to look beyond Opec+ to meet crude needs
India, the largest buyer of crude oil from the Opec+ grouping, wants crude production to be increased to ease the crude oil prices. Even so, Opec+ countries have decided against increasing output. Can India look beyond Opec+ for its crude oil requirement? Mint analyses.
Who are the Opec+ group of nations?
The Organization of the Petroleum Exporting Countries (Opec) is an intergovernmental organization that was established in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five founding members were later joined by Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, and Nigeria among others.
