The Indian government on Friday said that crude oil supplies should be market-determined rather than artificially managed, Trend reports citing Xinhua.
"Our Ministry of Petroleum and Natural Gas is reviewing closely the global crude supplies and price situation," said the Ministry of External Affairs spokesman Arindam Bagchi.
Addressing the regular press briefing, he said India has been appealing to crude oil producing countries since the beginning of the year to ease crude oil production cuts announced last year, as high crude prices hurt the consumption-led recovery of several countries including India.
"We have noted that OPEC and OPEC-Plus have announced last week a slight easing of crude production cuts, even though it is still far below the originally announced schedule of cuts," said Bagchi.