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Thursday, January 16, 2025 | 01:48 AM ISTEN Hindi

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OPEC+ production cut ahead of winter puts India on a slippery slope

A higher than expected production cut by the group will add to the strain on government finances

opec
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India imports around 87% of its oil, half its gas in the form of LNG, and over 60% of its LPG

S Dinakar
“Winter is coming”, a line from Game of Thrones, spells uncertainty and doom in the famous American television series. Those sentiments with portents of higher inflation this winter have migrated to this part of the world after the Organisation of Petroleum Exporting Countries +, which includes the world’s biggest oil exporters Saudi Arabia and Russia, decided to cut production from November by a steeper than expected 2 million barrels a day.

India locally consumes around 4 million barrels a day and must now be prepared for higher oil prices this winter, and more pressure on the rupee against weaker economic

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