Reliance Industries has reportedly increased its procurement of Middle Eastern crude oil, purchasing at least 2.5 million barrels last week. This shift comes as Western governments intensify pressure on India to curb the import of Russian crude, a development that could influence both the company's operations and India's broader energy procurement strategy. Advertisement
According to a report in Bloomberg that quoted traders familiar with the matter, there has been a notable uptick in Reliance's buying activity in the region, indicating renewed interest in sourcing alternatives to Russian supplies. The impact of these changes holds significance for the global crude market as well as for India's role in regional energy trade.
According to traders familiar with the matter the privately-h