India Seen Making Slow Return to Mideast Oil as Hormuz Reopens (opens original article in a new tab)

India's state-run refiners are not rushing to resume Middle East oil purchases despite the Strait of Hormuz reopening, having secured enough crude for two months and turning to alternative suppliers.

• India's state-run refiners have secured enough crude for two months and are not rushing to resume Middle East oil purchases.
• Middle Eastern suppliers have requested refiners to take contractual volumes under long-term agreements, but refiners have not committed yet.
• India's crude imports from the Middle East fell to the lowest level since 2013 as refiners turned to alternative suppliers like Russia and South America.