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Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies
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Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have secured millions of crude barrels from Angola, Nigeria, and Brazil to bolster national reserves. This strategic procurement follows a significant drawdown in stockpiles due to Strait of Hormuz disruptions. Inventories have since rebounded, nearing a year-high, signaling a stabilization of India's energy security amidst global market fluctuations and OPEC+ output adjustments. What's Your Reaction?
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