Indian refiners unlikely to rush for Iranian oil: Experts
India, June 27 -- Indian refiners are unlikely to significantly increase purchases of Iranian crude despite a temporary easing of US sanctions, as uncertainty over the duration of the waiver, payment constraints, and existing supply commitments limit the scope for new buying, according to a market analyst. The United States has provided a 60-day sanctions waiver that temporarily allows Iranian crude exports, but the short timeframe is unlikely to trigger a broad return of buyers beyond China, said Sumit Ritolia, who models refinery and oil markets at Kpler. Indian refiners have already secured much of their crude requirements for the coming months, with procurement plans typically finalised two to three months in advance, Ritolia said. Hi...
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