New Delhi: Indian refiners are unlikely to significantly increase purchases of Iranian crude despite a temporary easing of US sanctions, as uncertainty over the duration of the waiver, payment constraints, and existing supply commitments limit the scope for new buying, according to a market analyst.
The United States has provided a 60-day sanctions waiver that temporarily allows Iranian crude exports, but the short timeframe is unlikely to trigger a broad return of buyers beyond China, said Sumit Ritolia, who models refinery and oil markets at Kpler.
