OPEC and its allies, within the alliance known as OPEC+last week postponed a planned increase in oil production in October and November and said it could postpone it again or cancel it if necessary.
And imports IndiaThe world’s third-largest importer and consumer of oil, it gets more than 80 percent of its oil needs from abroad.
Demand for fuel in India is on the rise.
Jain said the country wants OPEC and its allies, including RussiaIncrease production Oil.
Asked if India would consider buying more oil from Russia, he said refiners would buy oil from suppliers offering lower prices.
In July, India became the largest buyer of Russian oil, overtaking China.
Jain said fuel retailers in India may consider cutting pump prices of petrol and diesel if crude prices remain low.
