India seeks less Saudi oil as virus resurgence dents demand

State-run refiners in India are looking to buy less crude from Saudi Arabia as demand in the Asian nation is poised to dip amid a resurgence of Covid-19, and relations between the two countries sour over prices.

Processors in the world’s no. 3 oil importer have sought to reduce May supplies by about one-third of their average monthly purchases, according to people handling the procurement of crude at these refiners.

Indian Oil Corp. and three other processors sent their requests, also known as nominations, to Saudi Aramco on April 5, said the people who asked not to be named due to company policy. Aramco is expected to inform customers of their allocations in the coming days.