India Says Higher Oil Prices Would Backfire on Producers
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India’s oil minister said higher crude prices would accelerate the transition to cleaner energy and worsen any global recession.
“If you raise the price from here, the only response is that the recession will be deeper and prolonged,” Hardeep Singh Puri said to Bloomberg TV at the Adipec energy conference in Abu Dhabi. “It’s in their interest not to let it go beyond” current levels, he said, referring to producers.