Reuters was first to report that Indian state refiners are planning to cut oil purchases from Saudi Arabia by a quarter in May because of an escalating dispute over supplies. New Delhi has previously asked Riyadh to boost deliveries to help support the global economy amid a coronavirus crisis. But the kingdom, OPEC’s de-facto leader, has pushed through an OPEC decision to stick to production cuts throughout April. India’s decision will benefit other oil producers, who will want to send additional barrels to one of the fastest-growing oil consumers in the world.
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