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Indian Refiner Snaps Up US Oil After Trump’s Russia Threats

Bloomberg.com · last updated

India’s largest oil refiner has snapped up millions of barrels of crude from the US and United Arab Emirates, with the South Asian nation facing mounting pressure from Washington and Europe over its purchases from Russia.

State-owned Indian Oil Corp. bought at least 5 million barrels US crude, on top of 2 million barrels of supplies from Abu Dhabi, according to traders who asked not to be identified as they aren’t authorized to speak publicly. The purchases were both large and for relatively immediate delivery by the company’s usual standards. State-owned processors were told to come up with plans for buying non-Russian crude earlier this week.

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