Global Markets

Rising oil prices pushing India toward gas

Indian Oil Corp. Chairman Sanjiv Singh has warned OPEC that the rising price of oil will push India towards alternatives such as gas.
By Staff reporter 11 July 2018 0 31694

Indian Oil Corp. Chairman Sanjiv Singh has warned OPEC that the rising price of oil will reduce purchases and push India towards alternatives such as gas, according to The Times of India.

The Indian market is price-sensitive, and if prices keep rising it will push consumers to use more cost-effective fuels, Singh said.