India State Refiners Plan to Cut Middle East Oil Contracts After Iran War Shock
Updated
Updated · Bloomberg · Jun 30
India State Refiners Plan to Cut Middle East Oil Contracts After Iran War Shock
3 articles · Updated · Bloomberg · Jun 30
Summary
India’s state refiners are preparing to reduce crude bought from Middle East producers under long-term contracts after the Iran war exposed supply risks.
Spot-market purchases are set to play a bigger role as processors seek alternative barrels and more flexibility in sourcing.
The shift marks a strategic rethink of India’s import mix, with state buyers trying to limit exposure to disruptions from the region that has long dominated their supplies.