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In trade, they oppose US position but on oil, India & China want US to oppose OPEC

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In trade, they oppose US position but on oil, India & China want US to oppose OPEC

In what could bolster the much acclaimed idea of 'Chindia', India and Asia - two of Asia's biggest buyers of crude oil - are contemplating of joining hands to counter the Organisation of the Petroleum Exporting Countries' (OPEC) dominance in the market and buy American supplies instead, a report in Bloomberg said. As per the report, India and China are considering ways to improve the import of US crude to Asia, a move which is aimed at reducing their dependence on the OPEC, as per an official in New Delhi. Both New Delhi and Beijing want to put the OPEC producers to keep the prices under check, the Bloomberg report cited the official as saying on the condition of anonymity. The report said a