Prime Minister Narendra Modi on Monday said that the world has seen crude prices on a roller-coaster ride for too long and there was a need to move to responsible pricing which balances the interests of both the producer and consumer.
Addressing the Petrotech 2019 global energy conference here, Modi also emphasised on transparent and flexible markets for oil and gas. Modi said he has always maintained that oil and gas were not only a commodity of trade but also of necessity and
energy is essential whether it is for the kitchen of a common man or for an aircraft. “For too long, the world has seen crude prices on a roller-coaster. We need to move to responsible pricing, which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity in an optimal manner,” he said.