
Indian Oil Corp, the state major, is buying Middle Eastern and African crude to replace Russian volumes affected by U.S. sanctions, including a cargo of Abu Dhabi Murban crude, which IOC does not normally buy, Reuters has reported, citing trading sources. The Murban cargo fetched a premium of $5 per barrel above the Dubai benchmark, the sources told Reuters. In addition to the rare Murban cargo, which totaled 2 million barrels, Indian Oil Corp. also bought 3 million barrels of Nigerian crude, a million barrels of Gabonese crude, and a cargo of…