NEW DELHI: Union minister Hardeep Singh Puri mentioned the latest developments and volatility within the global oil markets and their implications for worldwide power stability with OPEC secretary general, Haitham Al-Ghaishad over a telephonic dialog on Friday.
Puri throughout the dialogue expressed dedication to supporting efforts to attain steadiness in global power markets, as per a press launch launched by the ministry of petroleum and pure fuel.Additionally, he talked in regards to the significance of balancing market stability, affordability, with practicality.
India is the second largest export vacation spot for OPEC. In the monetary yr 2022-23, India imported crude oil, LPG, LNG, and petroleum merchandise value $120 billion from OPEC nations.
Puri, in a press release final month talked about that after the latest discount, the costs of cooking fuel in India are one of many lowest globally.
As per the central authorities, throughout the Covid interval from June 2020 to June 2022, the worldwide costs of LPG surged by roughly 300%. However, your complete price improve was not transferred to shoppers of home LPG and was solely elevated by 72%.
The Union minister additional mentioned that the Centre efficiently prevented oil costs from surging regardless of the global turbulence throughout the Russia-Ukraine battle and drone assaults on service provider ships within the Red Sea.
Puri throughout the dialogue expressed dedication to supporting efforts to attain steadiness in global power markets, as per a press launch launched by the ministry of petroleum and pure fuel.Additionally, he talked in regards to the significance of balancing market stability, affordability, with practicality.
India is the second largest export vacation spot for OPEC. In the monetary yr 2022-23, India imported crude oil, LPG, LNG, and petroleum merchandise value $120 billion from OPEC nations.
Puri, in a press release final month talked about that after the latest discount, the costs of cooking fuel in India are one of many lowest globally.
As per the central authorities, throughout the Covid interval from June 2020 to June 2022, the worldwide costs of LPG surged by roughly 300%. However, your complete price improve was not transferred to shoppers of home LPG and was solely elevated by 72%.
The Union minister additional mentioned that the Centre efficiently prevented oil costs from surging regardless of the global turbulence throughout the Russia-Ukraine battle and drone assaults on service provider ships within the Red Sea.
