Hardeep Singh Puri Calls for Dialogue to Maintain Reliable Energy Supplies

Oil Minister Hardeep Singh Puri has stressed the need for continued engagement between energy-producing and consuming nations to encourage investment, improve energy resilience and maintain dependable supplies needed for global economic growth. Puri made the remarks while co-chairing the seventh high-level meeting of the OPEC-India Energy Dialogue with OPEC Secretary General Haitham Al Ghais.

The meeting took place amid heightened tensions in West Asia and disruptions to international energy trade through the Strait of Hormuz. The situation has affected oil flows to major consuming countries such as India and China, while international crude prices have climbed sharply, with Brent crude moving above the $100-per-barrel mark.

According to the Ministry of Petroleum and Natural Gas, the discussions covered oil market stability, energy security and the need for sufficient and timely investment throughout the oil sector. India and OPEC also examined the industry's short-, medium- and long-term outlooks, with the talks highlighting India's growing importance to global economic activity and energy demand. Puri described India's relationship with OPEC and its member countries as mutually beneficial, saying the long-standing engagement has helped strengthen cooperation and understanding on major energy-related issues.

He noted that India's expanding economy is expected to remain a major source of global energy demand in the coming decades. Puri said regular dialogue between producers and consumers would be important for attracting investment, building stronger energy systems and ensuring reliable supplies.

The minister also acknowledged OPEC's efforts to promote stability and transparency in global energy markets amid geopolitical tensions and fluctuating market conditions. He called for closer cooperation between India and OPEC to support a stable, balanced and predictable international energy market.

OPEC Secretary General Haitham Al Ghais, meanwhile, praised India's approach to dealing with energy-related challenges, describing it as balanced, practical and realistic. He said several of India's priorities in the energy sector are also shared by OPEC. Al Ghais further highlighted India's continued emphasis on diplomacy and dialogue, saying such approaches are important in addressing major global challenges.

Disclaimer: This image is taken from @opecsecretariat.