Demand security equally important for oil firms: Pradhan in Istanbul

At the Petroleum Congress, Union petroleum minister again pushes for 'responsible pricing'

In the wake of weak crude oil prices and subdued demand, India now has been highlighting demand security as an equally important factor for oil-producing companies. At the Petroleum Congress in Istanbul, Union Petroleum Minister Dharmendra Pradhan again pushed for 'responsible pricing' .

"He underlined that in today's oversupplied market, it is important for producers to understand the perspective of consumers and demand centres and the changes that have taken place in these demand centres. As the security of supplies is an important factor for consumers, security of demand is equally important for producers," said a statement from the Press