New Delhi: India and the Organisation of the Petroleum Exporting Countries (OPEC) on Tuesday agreed on the vital importance of deepening energy cooperation between the two sides during a high-level meeting held in New Delhi.
The meeting was co-chaired by India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri and OPEC Secretary General Haitham Al Ghais.
India, OPEC Discuss Oil Market Stability And Energy Security
The discussions focused on oil market stability, energy security and the need for adequate and timely investment across the oil industry.
Both sides reviewed the short-, medium- and long-term outlooks for the energy sector and highlighted India’s growing role in global economic expansion and energy demand, according to an official statement.
Puri appreciated OPEC’s efforts to promote stability and transparency in global energy markets amid geopolitical uncertainties and market volatility. He called for closer cooperation between India and OPEC to advance a balanced, stable and predictable global energy market.
The minister said India and OPEC share a naturally complementary and mutually beneficial relationship, while stressing the importance of India’s longstanding engagement with OPEC and its member countries.
“As one of the world’s fastest-growing major economies, India will remain an important driver of global energy demand in the decades ahead. A sustained dialogue between producers and consumers is essential to support investment, strengthen energy resilience and ensure reliable energy supplies for global growth and development,” Puri said.
OPEC Calls India A Key Partner In Global Energy Landscape
Al Ghais said dialogue with India remains a priority for OPEC, citing the country’s importance in the global energy landscape and its expected role in the decades ahead.
“Dialogue with India is a priority for OPEC because we recognise India’s importance within the current global energy landscape and the fact that this importance will only increase in the decades ahead,” he said.
He noted that the OPEC-India Energy Dialogue is now 11 years old and was launched in New Delhi in 2015.
The OPEC Secretary General also commended India’s balanced, realistic and pragmatic approach to energy challenges, saying that many of India’s energy priorities align with those of OPEC.
Al Ghais further praised the Indian government’s commitment to international collaboration and dialogue, stressing the role of diplomacy in addressing major global challenges.
8th OPEC-India Energy Dialogue Meeting To Be Held In Vienna
During the meeting, both sides agreed to hold the 8th High-Level Meeting of the OPEC-India Energy Dialogue in Vienna at a mutually convenient date.
The discussions come as India and major oil-producing countries continue to focus on energy security, market stability, investment and reliable supplies amid changing global energy conditions.