Large importers like India are set to take a hit, as they spent around $120 billion last year on the import of petroleum products, as per India's oil minister Hardeep Singh Puri. OPEC+ last week decided to cut output by 2 million barrels per day. As the world's third largest consumer and importer of oil, India buys about 85% of its needs from overseas, while its energy demands are set to rise to power its economic expansion.from Energy-Industry-Economic Times https://ift.tt/RquhzET
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