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Business News

Dec 07, 2018
1:03PM

OPEC to consider PM Modi's views on deciding global oil prices

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As the oil-producing countries gathered in Vienna for the Organisation of the Petroleum Exporting Countries (OPEC) meet, Saudi Arabia’s energy minister said that the views of world leaders like Prime Minister Narendra Modi and US President Trump will be taken into consideration while deciding the price of the oil.


Addressing the media ahead of the summit, Saudi Energy Minister Khalid Al Falih said OPEC nations will consider Prime Minister Narendra Modi's consumer-centric views on oil pricing before taking any decision. 


Oil prices have crashed nearly 30 per cent in the last two months as major producers including the US are pumping oil at high rates and also due to fears that weaker economic growth could dampen energy demand.

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