Saudi Arabia, the world’s biggest crude exporter, is preparing for an initial public offering of its state-run producer and leading efforts by OPEC to curb output and eliminate a global glut that spurred oil’s decline.“We are a very price-sensitive consumer," Pradhan said on Tuesday. "From Indian consumers’ point of view, I will be more than happy if the price is around $50 a barrel." Nobody immediately replied to an email seeking comment sent to Aramco’s press office outside regular business hours.“Things are on the table, we are discussing with each other,” Pradhan said, referring to Saudi Arabian participation in the project. “It has to be a win-win situation for both. (DISCLAIMER: This column does not necessarily reflect the opinion of economictimes.com, Bloomberg LP and its owners)

Source: Economic Times April 11, 2018 05:55 UTC