India grabs new oil supply to cut Mideast reliance as Opec+ keeps a check

Indian purchases from the U.S. more than doubled in January on-month, government data show. The country's sophisticated refineries can process almost every kind of crude

Refiners in the third-biggest oil importer are snapping up more cargoes from outside the Middle East after India’s government urged them to diversify suppliers with the OPEC+ alliance keeping a tight rein on output.

Local processors are adding new grades and lifting more U.S. oil to pare their reliance on the Middle East, the nation’s traditional supplier. HPCL-Mittal Energy Ltd. became the first Indian buyer of Guyanese oil, while Mangalore Refinery & Petrochemicals Ltd. has booked a shipment of Brazil’s Tupi for the first time.

While expanding energy demand makes it imperative for India to widen its pool of crude sources, the