India Turns to Atlantic and Middle Eastern Crude as Russian Supplies Falter
Affected assets and topics
Why it 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.
Expected market reaction
Market impact analysis based on bullish sentiment with 80% confidence.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 36320
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…
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Original article published by OilPrice.com on January 23, 2026. Analysis and insights provided by AnalystMarkets AI.