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India wants OPEC to reconsider its decision of cutting petroleum production


New Delhi, Dec 7: For a developing country like India energy security is one of the important concern and in the present scenario when Organisation of Petroleum Exporting Country (OPEC) is planning to cut the production of petroleum products, Prime Minister Narendra Modi has demanded right and justifiable price of crude oil to which petroleum minister of Saudi Arabia Khalid al Falih said that OPEC will consider the concern of Indian Prime Minister and many other leaders about the decision of cutting production to arrest declining prices.

India wants OPEC to reconsider its decision of cutting petroleum production

India is the third largest consumer of the petroleum products in the world as it imports around 80 per cent of its total petroleum consumption.So the world leaders under the leadership of Modi demanded to fix a reasonable price for oil. Falih said, "We take words of Indian Prime Minister Narendra Modi seriously who has been very vocal like United States of America's president Donald Trump. I had met him in Buenos Aires during G 20 summit."

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"The Indian PM has put forth his view on this issue very strongly as he takes care of the Indian consumers and he is very serious about them. I have also seen him in three energy programme in India in which he was very vocal," said Falih.

Saudi Arabia said that there is a chance that OPEC member countries might not agree to reduce production of oil as Falih too was of the view that he is not very sure about it. "We are still discussing that how production of oil can be reduced and many other are discussing the matter and are hopeful that some agreement could be reached upon," said Falih.

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