SENSEX
NIFTY
GOLD
USD/INR

Weather

image 30    C

Economy News

The Economic Times

Economy / The Economic Times

details

Indian Oil to trim Middle East oil imports under annual deals amid Iran war

Indian Oil Corporation plans to reduce its crude oil imports from Middle Eastern sources in the next fiscal year due to the ongoing war in Iran, which has led to significant supply chain uncertainties. This anticipated decrease in crude volumes under annual contracts comes as shipping is affected by vessel attacks. Additionally, rising freight costs have prompted Indian refiners to prefer spot purchases.

21 Oct 2026 2:04 pm