Indian Oil Secures 7 Million Barrels of Crude Amid Russian Supply Disruptions

Indian Oil Corporation (IOC) has procured 7 million barrels of crude oil from the Middle East and Africa through tenders, according to trade sources. This strategic move comes as U.S. sanctions on Russian oil exports create supply disruptions, prompting IOC to diversify its procurement strategy. The purchase highlights India's efforts to ensure stable energy supplies while mitigating geopolitical risks in the global oil market. With energy demands surging, this acquisition underscores IOC's focus on strengthening its supply chain.

Source: Trade Sources