India Seen Making Slow Return to Mideast Oil as Hormuz Reopens

India's state-run refiners have secured sufficient crude oil supplies for the next two months, indicating a slow return to Middle Eastern oil purchases even if the Strait of Hormuz reopens. This cautious approach stems from the refiners' existing inventory, which negates immediate pressure to resume imports from the region. The decision reflects a strategic adjustment to global oil supply dynamics and potentially a diversification of sourcing strategies. The refiners are prioritizing the utilization of their current stock before re-engaging with Middle Eastern suppliers. This stance suggests a potential shift in India's energy procurement, influenced by factors such as price, availability, and geopolitical considerations. The duration of this pause in Middle Eastern oil purchases will likely depend on inventory levels and evolving market conditions.