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India Expresses Concern Over Rising Crude Oil Prices Amid Escalating US-Iran Tensions
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan expressed India’s concern over the prevailing trends over the crude oil price. (NARINDER NANU/AFP/Getty Images)
Amid escalating tensions between United States and Iran in the Strait of Hormuz, Minister of Petroleum and Natural Gas Dharmendra Pradhan expressed concerns about the rising crude oil prices to his Saudi Arabian counterpart Khalid al-Falih, reports Economic Times.
Pradhan, in a telephonic conversation, told Falih that India wanted Saudi Arabia to play an active role within Organisation of Petroleum Exporting Countries (OPEC) and OPEC plus discussions to regulate the oil prices to keep them at a reasonable level.
“Shri Pradhan, referring to the developments in the Strait of Hormuz, conveyed his concern on rising crude oil prices. He also reiterated the sensitivity of Indian consumers to prevailing crude oil price volatility. Shri Pradhan has sought active role of Saudi Arabia within OPEC and in the OPEC Plus discussions for keeping oil prices at a reasonable level,” said a statement from Ministry of Petroleum and Natural Gas.
Pradhan also sought for further enhancing cooperation in the hydrocarbon sector and enhancing of the strategic partnership between both the countries.
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