State refiners set to review oil import contracts

NEW DELHI: India on Friday said that the country expected further relaxation in oil output cuts, a day after the Organization of the Petroleum Exporting Countries Russia, and their allies, a group known as OPEC+, agreed to ease its production cuts from May. In fact, the government has asked refiners to negotiate with oil producers to get better deals and review contracts they enter into for buying crude oil from Saudi Arabia.