Oil prices at $110/bbl pose 'bigger threats' than inflation -India Oil Min

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW DELHI (Reuters) - 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)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting