India’s Petroleum and Natural Gas Minister, Hardeep Singh Puri, had a telephonic conversation with OPEC Secretary General, H.E. Mr.Haitham Al-Ghais. They discussed the importance of finding a balance between stable oil markets, affordability for consumers, and practical solution. Mr Puri emphasized the importance of balancing market stability, affordability, with pragmatism.
As one of the world’s fastest-growing economies, India is committed to supporting efforts to achieve balance in global energy markets, said Shri Hardeep Singh Puri during the conversation.
India and OPEC have a longstanding partnership. India is the second largest export destination for OPEC.
During Financial Year 2022-23, India imported crude oil, LPG, LNG, and petroleum products from OPEC countries, amounting to approximately US$ 120 billion.
