Oil prices at $110/bbl pose 'bigger threats' than inflation: Hardeep Singh Puri

May 23,2022

Oil prices at $110/bbl pose 'bigger threats' than inflation: Hardeep Singh Puri

Petroleum and natural gas minister Hardeep Singh Puri in an interview on the sidelines of WEF meet at Davos said, "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."

Union petroleum and natural gas 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 a TV channel 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.