{"id":422510,"date":"2021-06-25T12:35:23","date_gmt":"2021-06-25T07:05:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=422510"},"modified":"2021-06-25T12:35:23","modified_gmt":"2021-06-25T07:05:23","slug":"petroleum-minister-dharmendra-pradhan-urges-opec-to-raise-oil-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/petroleum-minister-dharmendra-pradhan-urges-opec-to-raise-oil-output\/","title":{"rendered":"Petroleum minister Dharmendra Pradhan urges OPEC to raise oil output"},"content":{"rendered":"<p>Reiterating his request of phasing out production cuts, Union minister of petroleum and natural gas Dharmendra Pradhan, in a high-level consultation meeting with OPEC secretary general Mohammed Sanusi Barkindo on Thursday, said that high crude prices is adding a significant inflationary pressure on India. \u201cCrude prices should remain within a reasonable band, which will be in the collective interests of both consumers and producers and will encourage a consumption-led recovery,\u201d Pradhan said.<\/p>\n<p>The price of Indian basket of crude is currently at $73.2\/barrel, up from $50\/barrel in end-December, supported by global demand recovery and voluntary production cuts until July-end from major oil exporting nations. \u201cGlobal crude oil prices are expected to hover in the range of $75-80\/barrel until at least September 2021, but may revert to $75\/barrel in case of higher Iranian supply and OPEC countries,\u201d analysts at CARE Ratings said on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reiterating his request of phasing out production cuts, Union minister of petroleum and natural gas Dharmendra Pradhan, in a high-level consultation meeting with OPEC secretary general Mohammed Sanusi Barkindo on Thursday, said that high crude prices is adding a significant inflationary pressure on India. \u201cCrude prices should remain within a reasonable band, which will be in the collective interests of both consumers and producers and will encourage a consumption-led recovery,\u201d Pradhan said. The price of Indian basket of crude is currently at $73.2\/barrel, up from $50\/barrel in end-December, supported by global demand recovery and voluntary production cuts until July-end from [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-422510","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422510","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=422510"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422510\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}