{"id":529954,"date":"2022-10-15T10:44:26","date_gmt":"2022-10-15T05:14:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=529954"},"modified":"2022-10-15T10:44:33","modified_gmt":"2022-10-15T05:14:33","slug":"india-pushes-oil-refiners-to-diversify-after-surprise-opec-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/india-pushes-oil-refiners-to-diversify-after-surprise-opec-cuts\/","title":{"rendered":"India pushes oil refiners to diversify after surprise OPEC+ cuts"},"content":{"rendered":"<p>JAIPUR: India said it will speed up its diversification of oil imports to hedge against any surprise output cuts by the Organization of the Petroleum Exporting Countries and its allies.<\/p>\n<p>&#8220;This will hurt large importers like India, who spent around $120 billion last year on the import of petroleum products,&#8221; India&#8217;s oil minister Hardeep Singh Puri said on Friday in reference to an OPEC+ decision last week to cut output by 2 million barrels per day.<\/p>\n<p>As the world&#8217;s third largest consumer and importer of oil, India buys about 85% of its needs from overseas, while its energy demands are set to rise to power its economic expansion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JAIPUR: India said it will speed up its diversification of oil imports to hedge against any surprise output cuts by the Organization of the Petroleum Exporting Countries and its allies. &#8220;This will hurt large importers like India, who spent around $120 billion last year on the import of petroleum products,&#8221; India&#8217;s oil minister Hardeep Singh Puri said on Friday in reference to an OPEC+ decision last week to cut output by 2 million barrels per day. As the world&#8217;s third largest consumer and importer of oil, India buys about 85% of its needs from overseas, while its energy demands are [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-529954","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/529954","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=529954"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/529954\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=529954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=529954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=529954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}