NIFTY 50

OPEC: Oil demand is under pressure across the world, but for India it's robust

Updated : October 16, 2019 06:31 AM IST

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday said that crude oil demand is under pressure across the world, but for India, it is robust.

In an interview to CNBC-TV18’s Manisha Gupta, Mohammad Sanusi Barkindo, secretary-general, said, "The forward integration into the downstream sector of the Indian market by some of our member countries is very healthy. It is healthy not only for Indian markets but also for the producing countries and the member countries that are investing here."

Taking about demand-supply, he said the act of balancing supply and demand is a continuous process, "I would reiterate that today we have a mechanism that has been tested and proven and we intend to continue to apply this mechanism."
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV