fxstreet.com 17 Feb, 2021 13:45 am

Urging OPEC+ to ease production cuts

Urging OPEC+ to ease production cuts
India's oil minister Dharmendra Pradhan said on Wednesday that rising oil prices are hitting demand and hurting the fragile global economic recovery a

India's oil minister Dharmendra Pradhan said on Wednesday that rising oil prices are hitting demand and hurting the fragile global economic recovery and urged the OPEC+ to ease production cuts, as reported by Reuters."High oil prices may add to inflationary pressure," Pradhan added and noted that high oil prices also impact the demand growth in developing countries.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.

"The demand recovery will take primacy over crude prices at least over the next few months," the minister further argued.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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