UAE Leaving OPEC: How It Can Change India’s Oil Future #uae #oilprices #iran #us

Added: 2026-04-30

[00:00:00]Uh since India is a major energy importer from the UAE, could this exit translate into better pricing or more stable supplies for India and uh do you believe that India could leverage this moment to deepen bilateral energy ties with the UAE outside multilateral frameworks?

[00:00:18]>> Look uh deepening the bilateral energy relationship is something that I invested a lot of time when I was ambassador in UAE from 2016 to 2019. uh we signed our first oil concession for Lure Zakum at that time. We uh opened the doors for our subsequent concessions in Abu Dhabi on shore one. Um we signed our and and executed our first strategic petroleum reserve at that time uh in Padur and the second one in Mangalore.

[00:00:51]Uh so I I certainly see that given the very special relationship that India has with the UAE uh we should benefit from this move in two ways. one uh I think uh once the uh war ends and things come back a little bit to the normal uh UAE will be able to produce more and that should have a calming effect on oil prices and India certainly as one of the world's largest importers of oil u will benefit from uh any moderation in oil prices from their current levels and secondly because of our relationship with UAE we may be able to do bil literal deals with UAE in a way that we cannot while UAE remains uh within the straight jacket of the OPEC.