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Indian refiners likely to buy more oil from West Asia
Business Standard
|October 25, 2025
Opec and its allies (Opec+) fully reversed its 2.2 million bpd voluntary cut in September to regain lost market share.
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The 12-member oil cartel, Opec, which produces 40 per cent of the total global oil, includes Iraq, Saudi Arabia, the UAE, and Kuwait, among others, while the larger group Opec+ includes Russia.
“India already has term contracts or spot mechanisms and logistics in place for most of these (Middle East, West Africa and the US) regions, so diversification is technically feasible, though not cost-neutral. Right now, I feel energy security takes centre stage, with refining economics also at play,” said Sumit Ritolia, lead research analyst for refining and modelling at maritimeintelligence firm Kpler.
Bu hikaye Business Standard dergisinin October 25, 2025 baskısından alınmıştır.
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