Petroleum Minister Wants 'Reasonable' Oil Deals

New Delhi: Oil minister Dharmendra Pradhan on Wednesday said he expects a "reasonable" price of crude oil from selling countries, in a sign the government is looking to leverage its position as a big buyer to negotiate deals in an oversupplied market.

"Crude prices should be reasonable and responsible, this is our constant demand," Mr Pradhan told reporters.

"Now oil producing countries have to realise buyers have the choice."

India is trying to use its position as one of the world's biggest energy consumers to strike better bargains for its companies with oil exporting nations, in a marked change of approach under Prime Minister Narendra Modi.