Indian Refiners Boost Middle East Supply To Offset Lost Russian Oil

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Why This Matters

Indian refiners are seeking to offset the loss of Russian oil by increasing supply from the Middle East, with Bharat Petroleum Corporation Limited (BPCL) awarding tenders to buy Iraqi and Omani crude.

Market Impact

Market impact analysis based on neutral sentiment with 75% confidence.

Sentiment
Neutral
AI Confidence
75%
Time Horizon
Short Term

Article Context

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Indian state-run refiner Bharat Petroleum Corporation Limited (BPCL) has awarded tenders to buy Iraqi and Omani crude on the spot market, as India’s refiners are raising supply of crude from the Middle East to offset in part the volumes they lost from Russia following the U.S. sanctions. BPCL has awarded one-year tenders to buy Iraq’s Basrah Medium and Oman crude to global commodity trader Trafigura, refining and trade sources told Reuters on Wednesday. Additionally, BPCL is scouring the market for spot cargoes of Murban…

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Original article published by OilPrice.com on January 21, 2026.
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