Energy guzzler India urges OPEC to tackle high oil prices
Updated : June 21, 2018 06:27 AM IST
The world faces likely lower oil exports from Iran, OPEC's third-biggest producer, after US President Donald Trump pulled out of a 2015 nuclear accord with a vow to renew sanctions against Tehran.
He said currently high oil prices dent the economic development of many countries.
New Delhi, which imports about 80 percent of its crude oil needs, has been urging responsible oil pricing that balances the interests of producers and consumers and supports the global economy.
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