<p>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.</p>.<p>"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 <em>CNBC TV18</em> in an interview at Davos.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/national/national-politics/states-sharable-pool-not-to-be-impacted-by-excise-cut-on-petrol-diesel-fm-1111494.html" target="_blank">States' sharable pool not to be impacted by excise cut on petrol, diesel: FM</a></strong></p>.<p>"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.</p>.<p>India has trimmed tax rates on several products including fuels to tame inflation.</p>
<p>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.</p>.<p>"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 <em>CNBC TV18</em> in an interview at Davos.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/national/national-politics/states-sharable-pool-not-to-be-impacted-by-excise-cut-on-petrol-diesel-fm-1111494.html" target="_blank">States' sharable pool not to be impacted by excise cut on petrol, diesel: FM</a></strong></p>.<p>"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.</p>.<p>India has trimmed tax rates on several products including fuels to tame inflation.</p>