New Delhi: India, the world’s third-largest oil consumer, has asked oil producers cartel OPEC to maintain and ensure market stability for the benefit of consumers, producers, and the global economy.
Oil Minister Hardeep Singh Puri said this at the 6th India-OPEC Energy Dialogue that took place on November 9 in Vienna, an official press statement said on Monday.
The meeting was co-chaired by OPEC Secretary General Haitham Al Ghais and Puri.
“The open and candid discussions at the meeting focused on key issues related to oil and energy markets with a specific emphasis on ensuring availability, affordability, and sustainability, which are necessary in ensuring the stability of energy markets. The two sides discussed the short, medium and long-term outlooks for the industry and recognized the important role of India in global economic growth and energy demand,” the statement said.
At the meeting, Puri highlighted that as the third-largest energy consumer, crude oil importer, and the fourth-largest global refiner, close ties between India and OPEC are not only essential but also natural.