New Delhi: India and the Organisation of the Petroleum Exporting Countries (OPEC) on Tuesday reviewed global oil market conditions, energy security and investment requirements in the petroleum sector at the 7th High-Level Meeting of the OPEC-India Energy Dialogue in New Delhi.
The meeting was co-chaired by Union Petroleum and Natural Gas Minister Hardeep Singh Puri and OPEC Secretary General Haitham Al Ghais.
The discussions covered the short-, medium- and long-term outlook for the oil market, with both sides highlighting the importance of adequate and timely investment across the energy industry. India’s growing role in global economic expansion and energy demand was also discussed.
Puri said India and OPEC share a “naturally complementary and mutually beneficial relationship” and emphasised the importance of sustained engagement between energy producers and consumers.
“As one of the world’s fastest-growing major economies, India will remain an important driver of global energy demand in the decades ahead,” Puri said, stressing that continued dialogue was essential to support investment, strengthen energy resilience and ensure reliable energy supplies.
He also appreciated OPEC’s efforts to promote stability and transparency in global energy markets amid geopolitical uncertainties and market volatility. Puri called for closer India-OPEC cooperation to support a balanced, stable and predictable global energy market.
Al Ghais said dialogue with India was a priority for OPEC, citing the country’s growing importance in the global energy landscape. He noted that the OPEC-India Energy Dialogue has been in place for 11 years, having been launched in New Delhi in 2015.
The OPEC secretary general praised India’s approach to addressing energy challenges and said several of India’s energy priorities were aligned with those of OPEC. He also highlighted India’s emphasis on international cooperation and dialogue in addressing global challenges.
The meeting reviewed progress under the dialogue framework, including cooperation at the technical level, and called for deeper engagement between OPEC and India on energy-related issues.
Both sides agreed to hold the 8th High-Level Meeting of the OPEC-India Energy Dialogue in Vienna, Austria, at a mutually convenient date.
