Oil prices ‘very challenging’, need them to sober a bit: India to OPEC

India Today | Jun 30, 2021 at 12:19 PM
  • Ahead of a meeting of oil producers’ cartel OPEC, India on Tuesday said the current oil prices are “very challenging” and rates need to be a “bit sober” lest they impact a consumption-led recovery of the global economy.
  • Expectations are high that the alliance may agree to raise production by 500,000 to 700,000 barrels per day, short of the expected deficit between global oil demand and supply.