India Finds Alternatives For Oil Trade Amid Saudi's Aggressive Policy

The HPCL chairman Mukesh Kumar Surana said that India already had accelerated its plans to cut dependence on Middle Eastern crude by switching to alternative energy. The comment came amid Saudi Arabia restricting supplies to pull crude-oil prices. Moreover, terming the price hike as detrimental, Mukesh said India is hopeful over Iran’s re-entry in the market, currently led by Riyadh. Notably, the Brent price galloped to over $72/barrel on March 8.