Indian Oil, HPCL buy 2 million barrels Venezuelan oil from Trafigura, sources say

Core Viewpoint - Indian Oil Corp and Hindustan Petroleum Corp have jointly purchased 2 million barrels of Merey crude from Venezuela for delivery in the second half of April [1] Group 1: Company Actions - Indian Oil Corp and Hindustan Petroleum Corp are state refiners in India [1] - The purchase of 2 million barrels indicates a strategic move to secure crude oil supply from Venezuela [1] Group 2: Market Implications - The acquisition of Venezuelan crude may reflect changing dynamics in the global oil market, particularly in sourcing from countries facing sanctions [1]