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The Economic Times

Economy / The Economic Times

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Indian refiners scout new crude sources as Gulf risks rise

Indian refiners are seeking alternative crude oil suppliers amid regional conflict. They are exploring new sources from Venezuela and Angola to ensure supply. Escalating attacks have disrupted vital shipping lanes and increased oil prices. Refiners are considering rerouting shipments around Africa to avoid the Red Sea. This shift will significantly lengthen journey times for crude oil deliveries.

24 Jul 2026 5:30 am