India, the world’s third-largest oil consumer, has urged the Organization of the Petroleum Exporting Countries (OPEC) to ensure stability in the market for the benefit of consumers, producers, and the global economy. Petroleum Minister Hardeep Singh Puri conveyed this message during the sixth India-OPEC Energy Dialogue held recently in Vienna. The meeting was co-chaired by OPEC Secretary-General Mohammad Sanusi Barkindo and Minister Puri.
In a government statement, it was highlighted that the discussions during the meeting focused on key issues related to oil and energy markets. Emphasis was placed on ensuring availability, price stability, and sustainability in these markets. Both parties emphasized the need to address concerns related to availability, pricing, and stability.
The joint statement released after the meeting indicated that there was a detailed and transparent discussion on major issues concerning oil and energy markets. The availability, pricing, and stability were given special attention to ensure the interests of both consumers and producers.
The statement also underlined the significance of discussions on short-term, medium-term, and long-term perspectives for the industry. The crucial role played by India in the global economic and energy landscape was acknowledged, with both sides recognizing India’s important role in promoting global economic growth and its substantial energy demands.
Referring to the future relations between India and OPEC, the statement suggested that the coming years would witness critical developments. This is particularly relevant as the world is focusing on enhancing global energy security, providing affordable energy, and reducing emissions. The dialogue aims to strengthen collaboration between India and OPEC in addressing these challenges and contributing to global energy sustainability.
The dialogue reflects the recognition of India as a key player in the international energy arena and underscores the importance of mutual cooperation to achieve shared goals of stability, affordability, and sustainability in the energy sector.
