India is weighing a number of options to secure additional crude oil to compensate for the loss of cheap Iranian supplies due to US sanctions.
Oil producers, however, are expected to seek a premium for the additional supplies which will roil the market further amid geo-political tensions.
Industry sources said the state owned refiners had tied up alternative supplies for the current month and are lining up supplies for the next two months.
“There would be no supply disruptions because of the US move… prices would be higher,” they added.
