India urges OPEC to stop crude price spike in scratch-my-back diplomacy

IEA projection of rising demand for oil adds to New Delhi's worry

Indian government bosses plan to tell the West Asian oil producers yet again that persisting high prices of crude will lead to a permanent demand destruction in the energy market. Retail prices of petrol and diesel are close to Rs 100 in several Indian cities and the high prices are persisting due to the huge cold wave induced disruption in the USA supply lines that has piled on top of a voluntary cut in production by key OPEC economies. 

Petroleum and natural gas minister Dharmendra Pradhan has already said in exchange for India’s support against falling oil prices last year, the