In a telephonic conversation with OPEC Secretary General, H.E.
Mr.Haitham Al-Ghais, Minister of Petroleum and Natural Gas, Shri Hardeep Singh
Puri emphasized the importance of balancing market stability, affordability,
with pragmatism. Shri Puri had an
extended telephone conversation lasting 30 minutes with OPEC Secretary General
today i.e. on 19 April, 2024. The discussion inter-alia, covered recent
trends and volatility in the global oil markets and their implications for
international energy stability.
As one of the world’s fastest-growing economies, India is committed to
supporting efforts to achieve balance in global energy markets, said Shri
Hardeep Singh Puri during the conversation.
India and OPEC have
a longstanding partnership. India is the second largest export destination for
OPEC.
During
Financial Year 2022-23, India imported crude oil, LPG, LNG, and petroleum
products from OPEC countries, amounting to approximately US$ 120 billion.