India will further diversify its oil imports to better prepare for future OPEC+ production cuts that raise oil prices and tighten supply for the world’s third-largest crude oil importer, Indian Petroleum Minister Hardeep Singh Puri said on Friday. Last week, OPEC+ announced the biggest cut to its collective target since 2020. Despite the headline number of 2 million bpd, the actual cut from current OPEC+ oil production would be half that figure, at around 1 million bpd-1.1 million bpd. That’s because many producers,…
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