India is saddened by the Opec+ decision to continue cutting production, said Petroleum Minister Dharmendra Pradhan on Friday. It (The decision) is not good news for India, China, Japan, Korea and other consuming nations,” he said at the sidelines of a CERAWeek event. After the Opec decision, one million barrels per day of crude oil production from Saudi Arabia will remain in place at least through April. Russia and Kazakhstan are increasing production. We still appeal to the oil producers and (say that) an alternative could be found. But if you continue to push us (consumers) it is not in the interest of both sides. High oil prices could benefit a group of producing nations but if you push customers that could lead us to find alternatives.
Read more about Russia, Saudi Arabia at odds over output deal ahead of Opec+ meeting on Business Standard. Russian Deputy Prime Minister Alexander Novak has voiced support for a gradual increase in oil output amid improving demand