PM Narendra Modi’s views on oil prices taken seriously: Saudi minister

Agencies
December 7, 2018

Vienna/New Delhi, Dec 7: Oil cartel OPEC will consider views of world leaders such as Prime Minister Narendra Modi, who represent the voice of major consuming nations, with seriousness before taking a decision on cutting output to support falling prices, Saudi oil minister Khalid Al Falih said Thursday.

India is the world’s third largest oil consuming nation, which is more than 80 per cent dependent on imports to meet its energy needs. Led by Modi, it has been very strongly making a case for oil producers’ cartel OPEC to price crude at reasonable and responsible rates.

Speaking to reporters at the meeting of the Organisation of Petroleum Exporting Countries (OPEC), he said: “We take the views of Prime Minister Narendra Modi seriously who (like US President Donald Trump) is equally vocal about the issue. We just met him in Buenos Aires (during G20 summit) and privately he made those points very very strongly that he does care for Indian consumers and is very serious about it. I have also seen him at three times at various energy events in India where he was very vocal.” He was replying to a question on US President’s expectations from OPEC meeting.

“Well, President Trump is the president of the largest consuming country in the globe -- 21 million (barrels), I believe, or thereabouts. That’s 20 per cent of global markets if not more. And the consumer in the US, just like the consumer in France, just like the consumer in India, just like the consumer in Saudi Arabia, wants affordable energy.

“So, he (Trump) has every right to wish for affordability of energy for the citizens of the United States and he is very vocal using his favourite communication tool which is Twitter and we hear him and we take his views seriously,” he said.

Ahead of the meeting, Trump in a tweeted had hoped that OPEC will keep oil flowing and not take decisions that would lead to higher oil prices.

“Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!,” he had said.

Consuming nations are part of OPEC deliberations even when they are not physically present in the meeting room, the Saudi oil minister said. “And the fact that President Trump tweets about it and reminds us, I think, is a healthy thing and we take it as one input factor but at the end of the day our most important guiding principle is to bring supply and demand into balance and we don’t think the US will benefit from an over-supply market for an extended period of time where investment flows stop and the fantastic growth in US shale is brought to a halt in the way it happened in 2015-2016,” he said.

OPEC Thursday delayed a decision on production until it meets with other producers on Friday.

Following this, crude oil prices traded sharply lower. Growing concerns that oil producers won’t reach an agreement to aggressively reduce production has also weighed on prices.

West Texas Intermediate crude for January delivery lost USD 2.30, or 4.4 per cent, to USD 50.59 a barrel on the New York Mercantile Exchange.

Members of OPEC concluded their meeting in Vienna, without deciding on output-cut figures. It plans to debate output figures with non-OPEC producers during their meeting Friday.

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News Network
January 23,2026

modIKERALA.jpg

Prime Minister Narendra Modi, during his visit to Thiruvananthapuram on Friday, January 23, indicated that the Bharatiya Janata Party (BJP) is aiming to expand its political footprint in Kerala ahead of the Assembly elections scheduled in the coming months.

Speaking at a BJP-organised public meeting, Modi drew parallels between the party’s early electoral gains in Gujarat and its recent victory in the Thiruvananthapuram Municipal Corporation. The civic body win, which ended decades of Left control, was cited by the Prime Minister as a possible starting point for the party’s broader ambitions in the state.

Recalling BJP’s political trajectory in Gujarat, Modi said the party was largely insignificant before 1987 and received little media attention. He pointed out that the BJP’s first major breakthrough came with its victory in the Ahmedabad Municipal Corporation that year.

“Just as our journey in Gujarat began with one city, Kerala’s journey has also started with a single city,” Modi said, suggesting that the party’s municipal-level success could translate into wider electoral acceptance.

The Prime Minister alleged that successive governments led by the Left Democratic Front (LDF) and the United Democratic Front (UDF) had failed to adequately develop Thiruvananthapuram. He accused both fronts of corruption and neglect, claiming that basic infrastructure and facilities were denied to the capital city for decades.

According to Modi, the BJP’s control of the civic body represents a shift driven by public dissatisfaction with the existing political alternatives. He asserted that the BJP administration in Thiruvananthapuram had begun working towards development, though no specific details or timelines were outlined.

Addressing the gathering at Putharikandam Maidan, Modi said the BJP intended to project Thiruvananthapuram as a “model city,” reiterating his party’s commitment to governance-led change.

The Prime Minister’s visit to Kerala also included the inauguration of several development projects and the flagging off of new train services, as the BJP intensifies its political outreach in the poll-bound state.

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News Network
January 23,2026

Karnataka Governor Thaawarchand Gehlot read only three lines from the 122-paragraph address prepared by the Congress-led state government while addressing the joint session of the Legislature on Thursday, effectively bypassing large sections critical of the BJP-led Union government.

The omitted portions of the customary Governor’s address outlined what the state government described as a “suppressive situation in economic and policy matters” under India’s federal framework. The speech also sharply criticised the Centre’s move to replace the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, commonly referred to as the VB-GRAM (G) Act.

Governor Gehlot had earlier conveyed his objection to several paragraphs that were explicitly critical of the Union government. On Thursday, he confined himself to the opening lines — “I extend a warm welcome to all of you to the joint session of the State legislature. I am extremely pleased to address this august House” — before jumping directly to the concluding sentence of the final paragraph.

He ended the address by reading the last line of paragraph 122: “Overall, my government is firmly committed to doubling the pace of the State’s economic, social and physical development. Jai Hind — Jai Karnataka.”

According to the prepared speech, the Karnataka government demanded the scrapping of the VB-GRAM (G) Act, describing it as “contractor-centric” and detrimental to rural livelihoods, and called for the full restoration of MGNREGA. The state government argued that the new law undermines decentralisation, weakens labour protections, and centralises decision-making in violation of constitutional norms.

Key points from the unread sections of the speech:

•    Karnataka facing a “suppressive” economic and policy environment within the federal system

•    Repeal of MGNREGA described as a blow to rural livelihoods

•    VB-GRAM (G) Act accused of protecting corporate and contractor interests

•    New law alleged to weaken decentralised governance

•    Decision-making said to be imposed by the Centre without consulting states

•    Rights of Adivasis, women, backward classes and agrarian communities curtailed

•    Labourers allegedly placed under contractor control

•    States facing mounting fiscal stress due to central policies

•    VB-GRAM (G) Act accused of enabling large-scale corruption

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News Network
February 1,2026

US President Donald Trump on Saturday claimed that the government of India led by Prime Minister Narendra Modi has made a deal to buy Venezuelan oil, as opposed to purchasing it from Iran.

"We've already made that deal, the concept of the deal," he told reporters on Air Force One.

Trump had imposed 25% tariffs on countries buying Venezuelan oil, including India, in March 2025. He had also hit India with tariffs for buying Russian oil, saying it was "funding" President Vladimir Putin's war against Ukraine.

Trump has said that the US has taken control of the oil-rich Venezuela after capturing former President Nicolas Maduro in January.

A fleet of 18 ships loaded with crude oil bound for refineries in Texas, Louisiana, and Mississippi in January, the most since December 2024, according to a report by the news agency Bloomberg.

Combined crude deliveries to the US will reach about 2,75,000 barrels a day, more than doubling volumes seen in December last year. Shipments to China, which averaged 4,00,000 barrels a day last year, fell to zero in January.

PM Modi, Venezuelan President Agree To Expand Ties

Prime Minister Narendra Modi and Venezuela's acting President Delcy Rodriguez spoke on Friday and agreed to take the bilateral relations to "new heights" in the years ahead.

It was the first phone call between the two leaders since the capture of Maduro and his wife by the US on January 3.

"Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead," PM Modi said in a post on X.

A statement from Prime Minister Modi's office said the two leaders agreed to further expand and deepen the India-Venezuela partnership in all areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people ties.

They exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South, the statement said.

Rodriguez also said that they discussed partnerships in the fields of agriculture, science and technology, mining, and tourism, as well as the pharmaceutical and automotive industries.

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