India Plans to Cut Reliance on Middle East Oil After War Shock

🇮🇳 Bloomberg (IN) —

AI Summary

India plans to reduce its dependence on Middle Eastern oil following supply shocks caused by the Iran war. The country's state oil refiners aim to diversify by increasing spot-market purchases and seeking alternative sources.

India’s state oil refiners are planning to reduce their reliance on the Middle East following the supply shock of the Iran war, and will lean more heavily on alternative options including through spot-market purchases, according to people familiar with the matter.

Security Conflict Politics Markets Deals Commodities Energy India oil reliance Middle East Iran war supply shock refiners spot market

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