India will continue to be global energy demand centre, says Dharmendra Pradhan at G20 Extraordinary Energy Ministers' meeting

We have assured the global leadership that India will continue to be one of the leading demand centres for oil, said Union Minister Dharmendra Pradhan after the G20 Extraordinary Energy Ministers' meeting on Friday.

"I took part in G20 Extraordinary Energy Ministers' meeting today. India raised 2 issues, less volatility of oil price is good for all stakeholders and price should be reasonable and affordable to producing and consuming countries," Pradhan told after the meeting.

"I have assured the global leadership that India will continue to be the global demand centre. We are confident that post-COVID-19 situation, under the leadership of Prime Minister Narendra Modi, the demand will come from India and it will contribute its bid to the global energy market through its robust demand centre," he added.

The meeting, held through video conferencing, was called by Saudi Arabia, in its capacity as the G20 Presidency, and chaired by its Energy Minister, Prince Abdulaziz.

Energy Ministers of G20 countries, guest countries and heads of international orgzations including OPEC, IEA and IEF attended the meeting.

Deliberations were also held in the meeting over the effects due to the reduction in demand owing to COVID-19 pandemic.

Pradhan in the meeting stated that India has always advocated for a stable oil market, which is reasonable for producers and affordable for consumers.

He also appreciated the collective efforts of OPEC and OPEC-plus countries to balance the supply-side factors which is imperative for long-term sustainability.

He has, however, urged that oil prices should be targeted to affordable levels to allow for a consumption-led demand recovery.

( With inputs from ANI )