(LiveMint)
India has raised the issue of global oil market’s price volatility with Russia, that is hurting the interests of both consuming and producing nations. This was articulated by India’s oil minister Dharmendra Pradhan in a meeting with Russia’s energy minister Alexander Novak. India has been urging its long time ally Russia to take into account the interest of energy consuming nations during its engagement with the Organisation of the Petroleum Exporting Countries (Opec) at a time when the Opec plus arrangement including Russia has extended its compact for production cuts.
“Minister Pradhan also conveyed expectation that Russia, a member of the Opec Plus, can play an important role in balancing global oil market both in terms of ensuring adequate supply as well as in having a responsible and reasonable price.” India’s petroleum ministry said in a statement.
