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India imported $120bn of OPEC hydrocarbons in 2022-23
India, the second largest export destination for hydrocarbon from OPEC, is committed to supporting efforts to achieve balance in global energy markets, Petroleum and Natural Gas Minister https://mopng.gov.in/en Hardeep Singh Puri has told the energy group’s Secretary-General Haitham Al-Ghais.
Puri emphasized the importance of balancing market stability, affordability, with pragmatism, given that India imported US$120 billion worth of crude oil, LPG, LNG, and petroleum products from OPEC https://www.opec.org/opec_web/en/ countries during FY2022-232.
Puri had an extended telephone conversation lasting 30 minutes with Al-Ghais on 19 April 2024 about recent trends and volatility in global oil markets.
The discussion inter-alia, covered recent trends and volatility in the global oil markets and their implications for international energy stability.
He also underlined the longstanding partnership between OPEC and India, one of the world’s fastest-growing economies. Fiinews.com
