Saudi oil minister Khalid Al Falih said OPEC or the Organization of Petroleum Exporting Countries will ponder views of world leaders such as Prime Minister Narendra Modi who represent the voice of major devouring nations, with seriousness before taking a step on cutting output to defend falling prices.
As the third largest oil devouring nation of the world, India is more than 80 per cent dependent on the imports to satisfy its energy requirements. Led by PM Modi, it has been very boldly assembling a case for the oil producers an association OPEC to price unrefined at the reasonable rates.
As the third largest oil consuming nation, India which is more than 80 per cent charged on imports to satisfy its energy requirements. It has been very boldly making a case for the oil producers cartel OPEC to price unrefined at reasonable rates.
Speaking to the reporters at the OPEC meetings, Indian Prime said: “ We take the views of Prime Minister Narendra Modi seriously who (like US President Donald Trump) is equally vocal about the issue. We just met him in Buenos Aires (during G20 summit) and privately he made those points very very strongly that he does care for Indian consumers and is very serious about it. I have also seen him at three times at various energy events in India where he was very vocal”.
He was responding to a question on the expectations of US President from OPEC meeting, “Well, President Trump is the president of the largest consuming country in the globe — 21 million (barrels), I believe, or thereabouts. That’s 20 per cent of global markets if not more. And the consumer in the US, just like the consumer in France, just like the consumer in India, just like the consumer in Saudi Arabia, wants affordable energy. ”