India seeks ‘responsible' Opec decision as Vienna tensions mount

The Organisation of the Petroleum Exporting Countries is heading into a contentious meeting tomorrow, with Iran promising to block any decision to increase output.

CAIRO: India, the world’s third largest oil consumer, expects a “responsible” approach from its suppliers as speculation mounts over whether Opec and its allies will reach a deal to boost output at a meeting in Vienna this week.

India welcomes a proposal made by top producers Saudi Arabia and Russia to gradually ease the group’s supply curbs after prices rose to hit US$80 a barrel last month, the South Asian nation’s oil minister, Dharmendra Pradhan (pic), said in an interview at the Austrian capital.