Hope OPEC will remember consumers when cutting output: Dharmendra Pradhan
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OPEC agreed to an oil output cut but was waiting for a commitment from non-OPEC producer Russia before deciding on the exact volumes for a production reduction.
Oil Minister Dharmendra Pradhan said on Friday he was hopeful that Organization of the Petroleum Exporting Countries (OPEC) would keep in mind consumers' interests before deciding to cut crude oil production.
Union Petroleum & Gas Minister Dharmendra Pradhan on OPEC Summit: Through the statements of the Saudi Oil Minister yesterday, it can be inferred that they will not take any decision overlooking the favours of the consuming countries. pic.twitter.com/QdmRNfamkT
— ANI (@ANI) December 7, 2018
OPEC tentatively agreed to an oil output cut on Thursday but was waiting for a commitment from non-OPEC producer Russia before deciding on the exact volumes for a production reduction aimed at propping up oil prices.