Indian refiners are preparing for any scenario in case they won’t be able to import any Iranian crude oil as the United States steps up pressure on countries to bring Iranian exports down to ‘zero’. One of the largest Iranian customers, Indian Oil Corporation (IOC), is ready for any scenario, and it has a wide basket of alternatives to ensure crude supplies, even if India stops importing Iran’s oil completely, IOC’s Chairman Sanjiv Singh told Bloomberg in an interview published on Monday. Saudi Arabia could cover most of the current Iranian oil supplies for IOC if India and its refiners were to cut off Tehran crude intake, Singh said, adding that a narrowing spread between Brent Crude and the Dubai oil benchmark gives refiners more options to source reasonably priced crude oil. “We have a very wide crude basket. There’s nothing we can’t procure, there’s nothing we can’t process,” […]