Indian Oil Minister Seeks Preferential Treatment from OPEC

VIENNA: As a major buyer of OPEC crude, India is hoping to leverage its ties with the oil producer bloc to gain "preferential treatment," the country's petroleum minister Dharmendra Pradhan told S&P Global Platts. 

 

In an interview after attending the second annual OPEC-India Dialogue in Vienna on Monday, Pradhan said that every strategic relationship requires "good terms," and with India's economy driving global demand growth, the south Asian country is seeking to increase its influence with major oil producers. 

 

"We don't want a mere buyer/seller relationship," he said. "We need energy security as we are giving production security. We are not tied up with anybody. Our strategic relationship is we need good terms. We need preferential treatment."(SOURCE-S&P GLOBAL) READ COMPLETE ARTICLE