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India seeks ‘reasonable’ oil price from Saudi Arabia – minister | Reuters

NEW DELHI (Reuters) – India is seeking a reasonable price for crude oil from Saudi Arabia, Oil Minister Dharmendra Pradhan said on Friday, in a move that could help Riyadh regain top spot in supplying the world’s third largest oil consumer.

Saudi Arabia’s Energy Minister Khalid al-Falih (C) leaves after a meeting in New Delhi, India, February 23, 2018. REUTERS/Adnan Abidi
“Some instrument can be developed so that the pricing is suitable for both of us,” Pradhan said after a meeting with Saudi Arabian counterpart Khalid al-Falih.

“We must get a reasonable price for crude oil and LPG (liquefied petroleum gas),” he said.

Iraq surpassed Saudi Arabia in 2017 as the top supplier to India.

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India seeks ‘reasonable’ oil price from Saudi Arabia – minister.