Trade deal impact? Govt pushes state-owned refiners to consider buying more US and Venezuelan oil

The government has urged state-owned oil companies to look at purchasing more US and Venezuelan crude, after a trade deal in which the Trump administration said India agreed to cut back on Russian oil imports, Bloomberg reported.

This development comes even as Commerce Minister Piyush Goyal said that the trade deal with the US is unaffected by Russian oil imports. He also said earlier that buying crude oil or energy from the US is in the country’s own strategic interests, and the decisions are taken by the companies themselves.