New Delhi: India on Friday made a case for affordable oil prices at G20 energy ministers’ meeting, in the backdrop of the Organization of the Petroleum Exporting Countries-plus (Opec+) combine slashing production amid the Covid-19 pandemic.
This was articulated by India’s petroleum and natural gas minister Dharmendra Pradhan. India's message comes at a time of Opec+, including Russia, agreeing to cut production by 10 million barrels per day (mbpd) under US pressure to prop up prices.
With Opec accounting for 80% of India’s crude oil imports, any production cut by the so called Opec plus arrangement impacts India’s energy security efforts in the short run. “He (Pradhan) appreciated the collective efforts of Opec and Opec-plus countries to