Indian Oil ramps up spot crude purchases as Middle East disruptions hit supplies

Indian Oil Corporation has significantly increased its spot crude purchases to nearly eighty-four percent. This strategic shift occurred after Middle East supply routes faced disruptions. The company also diversified imports from West Africa and Latin America. Despite higher crude costs, Indian Oil reported its highest-ever first-quarter crude throughput. Fuel sales and market share saw notable increases during the period.

By SHIVANGHI PAYAL