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COVID-19 - News digest as of 19.04.2021

April 19/2021

1. India aims to diversify crude oil supplies, which maybe hard to achieve due to harsh realities of the global market

MOSCOW (MRC) -- Indias obvious displeasure with restrictions on output imposed by OPEC and its allies, and its aim to diversify crude oil suppliers, may run into the harsh realities of the global market, reported Reuters. The worlds third-biggest oil importer and consumer has told state-owned refiners to speed up the diversification of crude imports in order to cut dependence on its main source of supply, the Middle East, reported Reuters in March, citing two sources with knowledge of the plan. Indias supply is dominated by members of the group known as OPEC+, which includes the long-standing producer group and allies such as Russia. The OPEC+ decision to continue its output cuts of around 7 million barrels per day (bpd) into April was met with anger in India, which imports 84% of its crude needs, with more than 60% coming from the Middle East.
Author:Margaret Volkova
Tags:Near East, crude and gaz condensate, COVID-19, India, Russia.
Category:General News
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