India State Refiners Plan to Cut Middle East Crude Share and Increase Other Sources After Iran War

India’s state oil refiners are planning to reduce their reliance on the Middle East following the supply shock of the Iran war, @business reported. The refiners will lean more heavily on alternative options as a result. The move comes directly after the Iran war disrupted established supply routes.

State-owned facilities are adjusting procurement strategies to limit exposure to the region. No specific volumes, timelines or alternative suppliers were detailed in the report.