OPEC & OPEC+

India’s engagement with the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ (OPEC plus allied oil-producing countries like Russia) remains crucial due to its heavy dependence on crude oil imports. In recent times, India has raised concerns about price volatility and called for transparent, reliable supply chains, while exploring alternate energy sources and suppliers.

Recent Developments

  • OPEC-Plus Output Policy Shift: Recently, OPEC+ began easing voluntary production cuts, approving gradual output hikes of around 411,000 barrels per day to address rising global inventories and stabilize prices.
  • India-centric Oil Supply Increase: In May 2025, leading OPEC+ producers, including Saudi Arabia, Russia, Iraq, ....
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International Relations