OPEC-India dialogue: Oil minister Puri calls for sustained producer-consumer talks to boost energy…

Fresh updates from the financial markets indicate that A sustained dialogue between oil producers and consumers is essential to backing investment, strengthen energy resilience and ensure reliable energy supplies for global expansion, Union Oil Minister Hardeep Singh Puri stated on Tuesday at the seventh OPEC-India Energy Dialogue in New Delhi.

Puri co-chaired the meeting with OPEC Secretary General Haitham Al Ghais, which focused on oil market stability, energy security and the need for adequate and timely investment across the oil industry.

The two sides reviewed the short-, medium- and long-term outlook for the oil market, while underscoring India’s growing role in global economic expansion and energy demand.

Puri stated India and OPEC share a complementary and mutually beneficial relationship and thanked Al Ghais for his contribution to strengthening the partnership.

He stated India values its longstanding engagement with OPEC and its member countries, which has contributed to greater understanding and cooperation on key energy issues.

“As one of the world’s fastest-growing major economies, India will stay an important driver of global energy demand in the decades ahead. A sustained dialogue between producers and consumers is essential to backing investment, strengthen energy resilience and ensure reliable energy supplies for global expansion and development,” Puri stated.

The minister additionally called on OPEC and India to work closely to advance a balanced, stable and predictable global energy market.

“Dialogue with India is a priority for OPEC because we recognise India’s importance within the current global energy landscape and the fact that this importance will only gain in the decades ahead,” Al Ghais stated, adding that many of India’s energy priorities are additionally OPEC’s priorities.

The meeting reviewed progress made under the dialogue, including at the technical level. Both sides underscored the importance of deepening energy cooperation between OPEC and India.

“What is particularly heartening around our dialogue is the fact that the Indian Government has consistently advocated diplomacy and dialogue as the means of resolving the great challenges of our age,” the OPEC secretary general stated.

The eighth High-Level Meeting of the OPEC-India Energy Dialogue will be held in Vienna, Austria, on a mutually convenient date.