The world’s third-largest consumer of crude oil and fifth-largest economy – India – won’t panic and “will manage” economically should prices rally past $100 per barrel, according to the country’s energy minister.
Speaking at energy conference ADIPEC in Abu Dhabi, United Arab Emirates (UAE) on Tuesday (October 3, 2023), Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, noted: “India is a large economy. It has a lot of domestic production. We’ll cut back or we’ll do something or the other. But I would worry about what happens to other parts of the developing world.”
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