Energy & Petrochemicals #crude oil#iocl
Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies as India rebuilds stocks
Indian state-owned refiners IOCL and HPCL bought approximately 7 million barrels of crude through tenders last week, with deliveries scheduled from late August through September, according to Reuters. The purchases come as India's crude inventories rebounded to near one-year highs, while global oil prices fell over 1% on Monday after OPEC+ agreed to further increase output targets.
Jul 6, 2026 1 source