Dharmendra Pradhan urges OPEC to achieve energy stability

New Delhi: Union Petroleum Minister Dharmendra Pradhan on Thursday called for responsible steps to achieve global energy stability.Pradhan who held a discussion with Dr Mohammed Barkindo, Secretary General, Organization of the Petroleum Exporting Countries (OPEC) through Video Conference, highlighted the need for producing and consuming countries to take appropriate steps in the coming days to set right the fragile economic situation globally in view of coronavirus.

The union minister said that the world expects gradual economic recovery and this will revive oil growth. He said care should be taken not to upset the fragile balance between supply and demand achieved so far.

While agreeing to work in close collaboration with OPEC countries for India’s energy security, Pradhan stressed on OPEC’s role in stabilising oil markets.During the video conferencing meet, Barkindo extended invitation to Pradhan to take part in the 8th OPEC International Seminar which will be held in Vienna on June 16 and 17 in 2021.

Both India and the OPEC agreed to hold the India-OPEC High level Dialogue in July 2020 through DVC. Barkindo praised India for taking immediate steps for managing the pandemic and reviving economic activities in the country.