India discussed oil market volatility with OPEC chief, government says

NEW DELHI: India had a discussion with OPEC secretary general on Friday regarding recent trends and volatility in the global oil market and their impact on global energy stability.

During the telephone conversation with Haitham Al-Ghais India's oil minister Hardeep Singh Puri "emphasized the importance of balancing market stability, affordability, with pragmatism", said the statement.

India imports more than 85% of its oil needs and traditionally relies on Middle Eastern oil producers for most of its requirements. These producers are mostly members of the Organization of the Petroleum Exporting Countries.