Refineries in India are importing oil from more varied sources in order to diversify supply
Indian refineries continue to reduce imports from traditional markets like Saudi Arabia and Iran and have stepped up purchasing from other markets, including Mexico, Iraq and Venezuela while building inventories as crude prices remain low. Availability of cheaper crude variants and softening of shipping costs have encouraged Indian refiners to import from new sources in order to diversify the country’s portfolio, reports Economic Times.

India has bee...

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