{"id":422430,"date":"2021-06-25T10:57:40","date_gmt":"2021-06-25T05:27:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=422430"},"modified":"2021-06-25T11:59:42","modified_gmt":"2021-06-25T06:29:42","slug":"govt-seeks-affordable-price-production-cut-phase-out-from-opec","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/govt-seeks-affordable-price-production-cut-phase-out-from-opec\/","title":{"rendered":"Govt seeks \u2018affordable\u2019 price, production cut phase-out from OPEC"},"content":{"rendered":"<p>With domestic retail fuel prices soaring to record high on rising global oil rates, India on Thursday asked 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 mostly been India\u2019s principal oil source. But, OPEC and its allies \u2014 called OPEC+ \u2014 ignoring its call for ease supply curbs had led to the world\u2019s third-biggest oil importer tap newer sources to diversify its crude oil imports.<\/p>\n<p>As a result, OPEC\u2019s share in India\u2019s 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 soaring to record high on rising global oil rates, India on Thursday asked 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 mostly been India\u2019s principal oil source. But, OPEC and its allies \u2014 called OPEC+ \u2014 ignoring its call for ease supply curbs had led to the world\u2019s third-biggest oil importer tap newer sources to diversify its crude oil imports. As a result, OPEC\u2019s share in India\u2019s oil imports has dropped to about 60 per cent [&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":[130],"tags":[],"class_list":["post-422430","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422430","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=422430"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422430\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}