India Turns to Atlantic and Middle Eastern Crude as Russian Supplies Falter
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مدعوم بالذكاء الاصطناعيIndia's state-owned oil company, Indian Oil Corp., is diversifying its crude oil sources by purchasing from Angola, Brazil, and the UAE, replacing Russian supplies under sanctions.
Market impact analysis based on bullish sentiment with 80% confidence.
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Indian Oil Corp. has bought several crude oil cargos from Angola, Brazil, and the UAE to replace Russian barrels under sanctions, Reuters reported today, citing unnamed sources. The purchases include 1 million barrels of Murban crude from the Emirates, sold by Shell, and 2 million barrels of Upper Zakum from Mercuria. IOC also bought 1 million barrels of Angolan Hungo and 1 million barrels of Clove crude from the West African producer, with Exxon as the seller. Lastly, the Indian major purchased 2 million barrels of Buzios crude from Brazil’s…
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