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India urges OPEC to boost oil exports, wants sustainable prices

These translations are done via Google Translate

June 20, 2018

VIENNA (Reuters) – India, the world’s third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as geopolitics affect the output of some producers.

The world faces likely lower oil exports from Iran, OPEC’s third-biggest producer, after U.S. President Donald Trump pulled out of a 2015 nuclear accord with a vow to renew sanctions against Tehran.

India is the biggest oil client of Iran after China.

He said currently high oil prices dent the economic development of many countries.

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“The already fragile world economic growth will be at threat if oil prices persist at these levels. My fear is – this will lead to energy poverty in many parts of the world,” he said.

Editing by Dale Hudson



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