India to buy one-third less oil from Saudi Arabia
Updated Apr 07, 2021 05:16 am
- State refiners slashed their orders for Saudi Arabian crude in May by a third in a signal to the kingdom that a big buyer like India cannot be antagonised, people with direct knowledge of the matter said.
- The gap can be made up in later months if the standoff between the two countries is resolved, they added. IndianOil, BPCL, HPCL and MRPL, all state-run refiners, placed orders on Monday for less oil than usual from Saudi in May.