Putting a full stop to all the questions about petroleum buying in India, Union Minister Hardeep Singh Puri cleared India’s stance.
Union Minister of Petroleum and Natural Gas Puri said, “India will buy oil from wherever it has to as it is difficult to have conversations with the consuming population about petroleum trade and its difficulties.”
His stance comes just two days after (OPEC) announced to cut oil production by two million barrels a day.
We have a moral duty to supply oil to citizens,” he said during an interaction in the US, adding that he hasn’t been told by anyone to stop buying Russian oil.
India consumes 5 million barrels a day, and now it is going up. So, no, we are not told by anyone.. there’s understanding. If there is an issue of how you want to deal with an evolving geo-political situation, which govt can have a discussion and those discussions will take place,” he said.
Speaking on the OPEC’s cut, he said that it’s the sovereign right of OPEC to decide on the oil production capacities.
“In our interaction with the oil price producers in the grouping that you call OPEC, or OPEC, plus, our understanding, my understanding, based on what we were told last year that this was a temporary adjustment and what you would see is that by February the amount of crude which is released into the market would be sufficient to cater to the increasing demand,” Puri added further.
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