Brief by Shorts91 Newsdesk / 01:39pm on 02 Mar 2026,Monday International
India’s state-run refiners, led by Indian Oil Corp., met government officials to review supply plans after the Iran war disrupted the Strait of Hormuz. The waterway carries nearly half of India’s daily oil imports. Officials are considering buying more Russian crude. Tankers are waiting near Asian waters. India had reduced Russian purchases after pressure from the United States and a recent trade deal. India imported just over 1 million barrels a day from Russia in February. That is about half of earlier peak levels. Officials said India has stocks that could last up to two weeks. Options include using reserves and raising LPG output. (PC: HT)
