Indian Oil buys October Iraq oil at discount of $28/bbl to Dubai, sources say
28/09/2026 07:10
Indian Oil buys October Iraq oil at discount of $28/bbl to Dubai, sources say NEW DELHI/SINGAPORE, Sept 28 (Reuters) - Indian Oil Corp IOC.NS, the country's largest refiner, bought 2 million barrels of Basrah Medium and Basrah Heavy crude at a discount of about $28 per barrel to the October Dubai benchmark on a free-on-board basis, two trade sources said on Monday.
The Indian state refiner has bought oil from trader Mercuria, the sources said.
IOC was seeking Iraqi oil for October 21 to 31 lifting through a tender.
Companies do not typically comment on tender-related information.
(Reporting by Nidhi Verma and Siyi Liu; Editing by Thomas Derpinghaus)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
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