India’s Reliance Industries Ltd. has bought millions of barrels of crude from the Middle East and US after Washington sanctioned two Russian producers, raising concerns about a disruption to oil flows.
The private refiner purchased several grades, including Saudi Arabia’s Khafji, Iraq’s Basrah Medium and Qatar’s Al-Shaheen, along with some US West Texas Intermediate crude, said traders familiar with the matter, who asked not to be identified because they’re not authorized to speak to the media. Cargoes are expected to be delivered in December or January, they added.
