Saudi Arabia, the world’s biggest oil exporter, will supply Indian oil buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday.
Reliance Industries Ltd, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemicals Ltd, sought an additional 1 million barrels each in November, one of the sources said.
Reuters last week reported that Russia and Saudi Arabia struck a private deal in September to raise output to cool rising prices and had informed the United States about the decision. Read More
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