December 7, 2018 / 11:34 AM / 4 days ago

India oil minister hopes OPEC will remember consumers when cutting output

NEW DELHI (Reuters) - Indian Oil Minister Dharmendra Pradhan said on Friday he was hopeful that Organisation of the Petroleum Exporting Countries (OPEC) would keep in mind consumers’ interests before deciding to cut crude oil production.

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.

Reporting by Mayank Bhardwaj. Editing by Jane Merriman

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