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

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...

By Sudhi Ranjan Sen, Rakesh Sharma · Bloomberg Markets

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.