The world’s third-largest oil importer, India, is concerned that Thursday’s OPEC+ decision not to lift oil production in April could hurt the consumption-led recovery in oil demand, Indian Petroleum Minister Dharmendra Pradhan told Reuters on Friday. “As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market,” Pradhan told Reuters. On Thursday, the OPEC+ group surprised the market by deciding not to lift collective crude oil production from April, leaving only small exemptions to Russia and Kazakhstan, as it did in its January meeting. So from April, not only will the alliance, for the most part, keep production unchanged – with the exception of Russia boosting output by 130,000 bpd and Kazakhstan by 20,000 bpd – but Saudi Arabia will also keep its extra 1-million-bpd cut into […]