Washington’s pressure has of course made itself felt. India, which took most of its crude from the Middle East until the invasion of Ukraine in 2022, has sought to rebalance, edging back to some of those traditional suppliers. Bharat Petroleum Corp. is among those that have sought to lock in long-term Middle East volumes, with tenders issued for Abu Dhabi’s Murban, Iraqi Basrah and Oman crude. Indian Oil Corp., meanwhile, has expanded purchases in the spot market.
