Business Standard

Oil prices at $110/barrel pose 'bigger threats' than inflation: Puri

Oil minister Hardeep Singh Puri said oil prices staying at $110/barrel could pose bigger threats than inflation to the global economy.

Hardeep Singh Puri

Oil Minister Hardeep Singh Puri. Photo: PIB India

Reuters New Delhi
Indian oil minister Hardeep Singh Puri said oil prices staying at $110/barrel could pose bigger threats than inflation to the global economy.
"If oil prices remain at $110 (per barrel) you are not just talking about inflation, then you're talking about bigger threats. You know, that's where the R (recession) word comes in," Puri told CNBC TV18 in an interview at Davos.
"And if the global economy goes in that direction, everyone, including the oil producers, everyone will have to face the consequences then inflation," he said.
India has trimmed tax rates on several products including fuels to tame inflation.
(Reporting by Nidhi Verma; Editing by Tom Hogue)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 23 2022 | 2:24 PM IST

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