India might push for getting lesser quantity of oil from Saudi if contract terms 'unfavourable'

Refiners want ‘price flexibility’ and ‘certainty of supply’ even during times when production falls due to various reasons, he said. The annual contract permits Saudi to cut supplies to the buyer in the event of the organisation of petroleum exporting countries (OPEC) agreeing to artificially reduce production, the person said, calling the provision ‘unfavourable’ to the buyer.

from Energy-Industry-Economic Times https://ift.tt/39z831j