India Seeks Less Saudi Oil as Virus Resurgence Dents Demand
- State refiners have asked for one-third less crude for May
- Weaker demand, price dispute likely contributing to decision
Photographer: Simon Dawson/Bloomberg
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State-run refiners in India are looking to buy less crude from Saudi Arabia as demand in the Asian nation is poised to dip amid a resurgence of Covid-19, and relations between the two countries sour over prices.
Processors in the world’s no. 3 oil importer have sought to reduce May supplies by about one-third of their average monthly purchases, according to people handling the procurement of crude at these refiners.