India on Sunday pressed oil cartel OPEC to adopt ‘responsible pricing’ for oil and consider the world's third-biggest oil consumer as its preferred sales destination. Oil Minister Dharmendra Pradhan met OPEC Secretary General Sanusi Mohammad Barkindo to discuss ‘the current scenario of oil and gas industry of the world and exchanged notes on the recent developments’, an official statement stated here.
During the meeting, Pradhan highlighted that in today’s oversupplied market, it is important for producers to understand the perspective of consuming countries and the changes that have taken place in these demand centres. Barkindo is in India to attend the first CERAWEEK India Energy Forum.