Indian Oil Plans Slight Cut to Middle East Crude Deals for 2027/28
Photo: TokenPost
Indian Oil Corporation Ltd. expects to make a small cut to Middle Eastern crude bought through annual contracts in fiscal 2027/28, as shipping disruptions in the Strait of Hormuz keep freight rates near record highs. The plan concerns crude purchased through annual contracts. For the fiscal year ending March 2027, Indian Oil’s plan called for Middle Eastern producers to supply about 47% of its crude imports under annual free-on-board contracts. Attacks on vessels in the Strait of Hormuz have constrained shipping availability.
Source: TokenPost
