Indian Oil buys 2m barrels of ADNOC Upper Zakum crude
Indian Oil Corp secured 2 million barrels of ADNOC’s Upper Zakum crude for end-August loading, priced from flat to a $1-per-barrel premium to August Dubai quotes. The purchase comes as Gulf supply disruptions prompt Asian refiners to secure additional cargoes.
Indian Oil Corp bought 2 million barrels of ADNOC's Upper Zakum crude for end-August loading as U.S.-Iran hostilities disrupted Gulf supplies, with the cargo priced at flat to a $1-per-barrel premium to August Dubai quotes.
Why this matters
No related recent Indian Oil Corp signals were provided; the purchase shows the refiner securing Gulf crude as supply disruptions push Asian buyers to add cargoes.
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