India offers to lift regular Saudi oil volumes in June after May cuts
NEW DELHI (Reuters) – Indian state refiners on Thursday placed orders for regular supplies from Saudi Aramco for June, after reducing purchases this month, drawn by lower prices by the world’s top oil exporter, four sources said on Thursday.
The refiners – Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd – normally buy 14.8 million-15 million barrels of Saudi oil a month.
“This time there is no direction from the ministry to cut imports in June and unlike last time they (Aramco) have reduced the prices as well,” said one of the sources.
Saudi Arabia has cut the June official selling prices (OSPs) of all crude grades it sells to Asia.
