Oil minister Dharmendra Pradhan and his Saudi counterpart have reviewed the global fuel markets at a time Riyadh is grappling with excess stocks of crude oil, having initiated a brutal output war with Russia that has seen crude prices crashing in the world markets to $25-per-barrel levels.
Even as its refiners have invoked the force majuere clause to stop importing crude, India needs assured supplies of LPG, whose demand has risen with the spread of the coronavirus.
Oil minister Dharmendra Pradhan in a tweet said he had discussed global oil market developments with Saudi energy minister Prince Abdulaziz bin Salman and Aramco’s chief executive Amin Nasser, as well, to ensure continued LPG supplies to India.
