India to buy oil from cheapest supplier; Saudi min response ‘undiplomatic’: Union Minister Dharmendra Pradhan
NEW DELHI: With Saudi Arabia giving cold shoulder to its plea for easing production controls, India on Friday said it will buy oil from any country that will give it at cheaper rates and on favourable business terms.
Refiners in the world’s third-biggest oil importer are snapping up more cargoes from outside the Middle East in an attempt to diversify suppliers.
The US in February overtook Saudi Arabia to become India’s second-biggest supplier but that happened prior to the March 4 decision of the OPEC+ alliance to keep a tight rein on output.
