OPEC and India Emphasize the Importance of Oil Stability

This came in a press statement issued by OPEC following the seventh meeting of the OPEC-India Energy Dialogue, held in the Indian capital, New Delhi, under the co-chairmanship of Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri and OPEC Secretary General Haitham Al Ghais.

During the meeting, Indian Minister Hardeep Singh Puri stated that India and OPEC share a naturally complementary relationship that is mutually beneficial.

Puri added that India values its long-standing ties with OPEC and its member countries, noting that these relations have significantly contributed to enhancing mutual understanding and cooperation on key energy issues.

He clarified that as one of the world’s fastest-growing major economies, India will remain a crucial driver of global energy demand in the coming decades, emphasizing that sustained dialogue between producers and consumers is essential to support investment, strengthen the resilience of the energy sector, and ensure reliable supplies that underpin global growth and development.

Puri praised OPEC’s efforts to promote stability and transparency in global energy markets amid geopolitical challenges and market volatility, calling for continued close cooperation to steer global markets toward greater balance, stability, and predictability.

For his part, Al Ghais affirmed that dialogue with India is a priority for OPEC, given India’s significance in the current global energy landscape, and noted that this importance will grow in the coming decades.

He stated that the OPEC-India Energy Dialogue has been ongoing for 11 years since its launch in New Delhi in 2015, commending India’s balanced, realistic, and pragmatic approach to addressing energy challenges.

He pointed out that many of India’s energy priorities align with those of OPEC, while also praising the Indian government’s firm commitment to international cooperation and dialogue.

He added that it is particularly reassuring that, throughout the dialogue process, the Indian government continues to emphasize the importance of diplomacy and dialogue as means to address the major challenges facing the world.