Indian Refiners Boost West Africa Crude Buys Amid Mideast Supply Woes

Hindustan Petroleum Corporation Limited (HPCL) recently acquired 2 million barrels of Nigerian crude (Forcados and Bonga grades) from Shell via tender for its Visakh refinery. This buying spree reflects ongoing concerns over Middle East crude supply disruptions and shipping risks. Continued demand shifts away from the Middle East could support global crude oil prices, potentially increasing Pakistan's import bill and adding pressure on the PKR, while also offering some safe-haven support for gold.

بحوالہ / Source: oilprice.com