India Urges OPEC+ to Keep Consumers in Mind at Next Meeting

India’s oil minister Hardeep Singh Puri has urged OPEC+ to keep in mind the impact of their expected December 4 production decision on consumers across the world.

• "It is entirely up to the producers to determine how much they want to produce and what price they want to sell," he said.
• "They have to factor in what's happening in the world, what the impact of their decisions will be." he added.
• "Our gas production went up by 18% last year, it will go up by another 18% this year, but we are the world's fastest growing major economy and our consumption is going up." Puri said.
• "We will diversify. I never bought energy from the U.S., we're buying $20 billion a year now. We are looking to any other source, wherever energy is coming in from," he added.
• Russia has emerged as the country’s second largest crude supplier behind Iraq as Indian refiners take advantage of steep discounts on Russian crude to battle inflation.