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India Turns to Atlantic and Middle Eastern Crude as Russian Supplies Falter
Market Intelligence Analysis
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Why This Matters
India'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
Market impact analysis based on bullish sentiment with 80% confidence.
Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
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…
Original article published by
OilPrice.com
on January 23, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.