# India’s Top State Refiner to Reduce Middle East Term Oil Purchases

- Source: OilPrice.com
- Published: 2026-10-21T15:30:00+00:00
- Category: Markets
- Original: https://oilprice.com/Latest-Energy-News/World-News/Indias-Top-State-Refiner-to-Reduce-Middle-East-Term-Oil-Purchases.html
- Canonical: https://groundlevelnews.com/story/india-s-top-state-refiner-to-reduce-middle-east-term-oil-purchases-45e454/

India’s largest state-owned refiner, Indian Oil Corporation (IOC), will reduce slightly the volumes of Middle East crude oil it will buy under annual term deals in the 2027/2028 fiscal year starting next March, amid uncertainty of supply from the region, an anonymous source with knowledge of the plans told Reuters on Wednesday. IOC initially planned to procure 47% of its crude oil from the Middle

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