{"id":422358,"date":"2021-06-25T08:48:22","date_gmt":"2021-06-25T03:18:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=422358"},"modified":"2021-06-25T09:43:02","modified_gmt":"2021-06-25T04:13:02","slug":"india-presses-opec-for-affordable-oil-phasing-out-of-production-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/india-presses-opec-for-affordable-oil-phasing-out-of-production-cuts\/","title":{"rendered":"India presses OPEC for affordable oil, phasing out of production cuts"},"content":{"rendered":"<p>With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel OPEC for \u2018affordable\u2019 oil price within a \u2018reasonable band\u2019 and that the producers should phase out production cuts.<\/p>\n<p>OPEC nations such as Saudi Arabia have traditionally been India&#8217;s principal oil source. But, OPEC and its allies, called OPEC+, ignoring its call for ease supply curbs had led to the world&#8217;s third-biggest oil importer tap newer sources to diversify its crude oil imports. <\/p>\n<p>As a result, OPEC&#8217;s share in India&#8217;s oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel OPEC for \u2018affordable\u2019 oil price within a \u2018reasonable band\u2019 and that the producers should phase out production cuts. OPEC nations such as Saudi Arabia have traditionally been India&#8217;s principal oil source. But, OPEC and its allies, called OPEC+, ignoring its call for ease supply curbs had led to the world&#8217;s third-biggest oil importer tap newer sources to diversify its crude oil imports. As a result, OPEC&#8217;s share in India&#8217;s oil imports has dropped to about 60 per cent in May [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-422358","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=422358"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422358\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}