OPEN APP
Home >Industry >Energy >India asks oil-producing nations to ease crude oil production cuts

The Ministry of External Affairs has requested oil-producing nations to ease the production cuts that were put in place last year due to a dramatic drop in consumption across the globe.

Speaking at a media briefing, MEA spokesperson Arindam Bagchi said, "India has been appealing to OPEC and OPEC plus countries to ease crude oil production cuts that were announced last year. We believe crude supply should be market-determined rather than artificially managed."

He further said that OPEC and OPEC plus countries have announced slight easing off last week but we expect more.

The spokesperson claimed that the high price of crude oil reduced the consumption-related recovery of several countries which also includes India.

Answering a question on the ongoing development in Myanmar, the MEA spokesperson said, "No discussion on the situation in Myanmar during the BIMSTEC meeting. Myanmar was represented by its Minister of the Ministry of International Cooperation of Myanmar."

On reports of an Indian diplomat from Myanmar attending Armed Forces' Day function, Bagchi said, "We have a functioning embassy in Myanmar. Our diplomats continue to discharge their regular diplomatic responsibilities. Nothing more should be read into our Defence Attache attending the event."

Bagchi also confirmed that John Kerry, US Special Presidential Envoy for Climate, will be visiting Delhi from April 5 to 8.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout