India’s demand from OPEC+ to increase oil production
According to Reuters, India's oil minister Pankaj Jain said his country wants OPEC producers and its allies to increase oil production as demand for the fuel in countries such as India is rising.
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The Organization of the Petroleum Exporting Countries (OPEC) and its allies in the OPEC+ coalition agreed last week to delay their planned production increases for October and November and, if necessary, this plan stop or reduce production.
India, as the third largest importer and consumer in the world, imports more than 80% of its oil needs.
Jain, when asked if India is thinking of buying more oil from Russia, said: Refineries will buy oil that is cheaper. In July, India overtook China and became the largest buyer of Russian oil.
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