India, OPEC pledge deeper energy cooperation amid global market uncertainty

India and the Organisation of the Petroleum Exporting Countries (OPEC) have agreed to deepen cooperation on energy security, oil market stability and investment, as the two sides held a high-level meeting in New Delhi on Tuesday.

The meeting was co-chaired by Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and OPEC Secretary General Haitham Al Ghais, with discussions covering developments in global oil markets and the short-, medium- and long-term outlook for the energy sector.

The two sides stressed the importance of adequate and timely investment across the oil industry, particularly as geopolitical tensions and market volatility continue to create uncertainty for energy producers and consumers.

According to an official statement, the discussions also highlighted India's growing importance in global energy demand and its role in driving economic growth.

Puri appreciated OPEC's efforts to promote stability and transparency in international energy markets and called for closer coordination between producers and consumers to support a balanced, stable and predictable energy environment.

“India and OPEC share a naturally complementary and mutually beneficial relationship,” Puri said, emphasising India's longstanding engagement with OPEC and its member countries.

The minister said India's rapid economic expansion would make the country an increasingly important driver of global energy demand.

“A sustained dialogue between producers and consumers is essential to support investment, strengthen energy resilience and ensure reliable energy supplies for global growth and development,” he said.

Al Ghais said maintaining dialogue with India was a priority for OPEC, given the country's growing importance in the global energy landscape.

“Dialogue with India is a priority for OPEC because we recognise India’s importance within the current global energy landscape and the fact that this importance will only increase in the decades ahead,” he said.

He noted that the OPEC-India Energy Dialogue has completed 11 years since its launch in New Delhi in 2015.

The OPEC Secretary General also praised India's approach to addressing energy challenges, describing it as balanced, realistic and pragmatic. He said several of India's energy priorities align with those of OPEC.

Al Ghais further highlighted India's emphasis on international cooperation and dialogue, saying diplomacy remained important in addressing major global challenges.

The meeting also discussed the need for continued engagement between oil-producing and consuming nations at a time when energy security, investment and supply reliability remain key concerns for the global economy.

India and OPEC agreed to hold the eighth High-Level Meeting of the OPEC-India Energy Dialogue in Vienna at a mutually convenient date.

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