Energy & Petrochemicals #crude oil#india
Indian Oil ramps up spot crude purchases as Middle East disruptions hit supplies
Indian Oil Corporation raised the spot share of its crude purchases from 50% to nearly 84% after Middle East supply disruptions following the US-Iran war, according to Business-Today. IOC posted a standalone net loss of Rs 2,661 crore for April–June on higher crude costs, even as crude throughput hit a record 19.165 MMT and domestic market share rose to 43.1%.
Aug 1, 2026 1 source