India increases its purchase of American crude oil at competitive prices, narrowing the trade surplus with the United States.

Trade sources said that, attracted by competitive prices, Indian refiners have increased their purchases of US crude oil this month, which may help reduce India's trade surplus with the United States amid tensions in the Indo-US relationship. Trade sources said that India's largest refiner, Indian Oil Corporation, has purchased 5 million barrels of WTI crude oil through a tender, to be delivered in October and November. Previously, another state-owned Indian refiner, Bharat Petroleum, purchased 2 million barrels of US WTI crude oil, while private refiner Reliance Industries bought 2 million barrels of WTI crude oil from Vitol.