Published Aug 1, 2026, 5:30 AM ET · Updated 3 months ago · 1 source

Indian Oil Buys Record Spot Market Crude on Mideast Supply Hit

bloomberg

Original Report

Indian Oil Corp. bought a record share of its crude oil from the spot market in the April-June quarter after the US-Iran conflict upended supplies from the Middle East. The shift shows how geopolitical turmoil is forcing even the region’s biggest buyers to abandon long-established procurement strategies.