India seeks oil discounts from OPEC

New Delhi, May 22

Petroleum Minister Dharmendra Pradhan has asked crude oil producing OPEC to work towards “responsible pricing” and demanded due acknowledgment through discounts in prices for large volumes that India imports. 

Pradhan visited Vienna for co-chairing the 2nd India-OPEC Institutional Dialogue at the OPEC headquarters. Pradhan had a meeting with OPEC Secretary General Mohammad Sanusi Barkindo and discussed bilateral issues of interest at a delegation-level dialogue. 

IOC said the minister highlighted the importance of India-OPEC engagement and discussed on the effects of the production cut of 1.8 mbpd by OPEC and non-OPEC countries on the global oil market volatility. — TNS