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Oil minister Hardeep Singh Puri says while OPEC nations have a right to decide on their energy production, supply cuts against such uncertainty, and the resulting adverse impact on global prices, will dent long term demand
India Business News: India is diversifying its crude oil sources by turning to Russia after Saudi Arabia and Iraq started charging a premium for supplies. Find out more about India's shift in oil imports and the impact on global prices.
Analysts and industry sources said the cut this time brought the price of Saudi crude into line with that of other producers
Saudi Energy Ministry: On Jan. 7, Saudi Arabia reduced the February official selling price (OSP) of its flagship Arab Light crude to Asia to the lowest level in 27 months. Asia is the kingdom's larget market, buying the bulk of Saudi crude.
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