At the OPEC meet this week in Vienna, Petroleum Minister Dharmendra Pradhan will again be demanding an end to the 'Asian Premium' on oil.
OPEC is a consortium the major oil producing countries including Venezuela,Saudi Arabia etc.. While Asian countries are largest importer of OPEC produced oil products. Why do OPEC nations charge Asian Premium surcharge to Asian countries?.
Contending with soaring crude prices, India is seeking to form an alliance of leading Asian oil importers to pressure OPEC into dropping the premium it charges countries in the region. "We are asking for abolition of the Asian premium," India's Oil Minister Dharmendra Pradhan said.
Asian Premium is the extra charge being collected by OPEC countries from Asian countries when selling oil, and India has been voicing its.
India is coordinating with China and other Asian countries to raise voice against Asian premium charged by Organisation of the Petroleum.