Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) have bought around 22 million barrels of non-Russian crude for delivery in September and October, Reuters reported. This comes after the US imposed 50% tariffs on India, pressurising it to halt purchases from Russia. IOC reportedly bought 2-million barrels of crude from US, 2-million from Brazil and 1-million from Libya.
short by
Shristi Acharya /
01:36 pm on
08 Aug