Indian refineries reportedly purchase crude oil from the Middle East and West Africa.

Three trade sources revealed on Wednesday that India's state-owned oil company Mangalore Refinery and Petrochemicals has purchased 1 million barrels of Omani crude through a bidding process. The transaction price was about $3 per barrel higher than the spot Brent crude benchmark price. One of the sources added that the seller was Mitsui & Co., Ltd. Energy Trading Singapore. Meanwhile, the sources indicated that Indian Oil Corporation, the largest refinery in India by refining capacity, has procured 4 million barrels of West African crude from Chevron.