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flag At the 2026 World Economic Forum, IOCL's chairman said stable oil prices and India’s growth boost both producers and consumers.

flag At the 2026 World Economic Forum, IOCL Chairman A S Sahney said stable global crude prices between $60 and $65 per barrel, combined with India’s strong economic growth, benefit both oil producers and consumers. flag India remains heavily reliant on crude imports, with IOCL sourcing 85-87% externally, while refining margins have normalized to healthy levels. flag Crude purchases are commercial, with ongoing sourcing from the U.S. and Canada, and potential future use of Venezuelan crude if supplies resume. flag Sahney emphasized that government policy is sufficient, and internal efficiency improvements are key to profitability. flag IOCL plans continued investment in petrochemicals and cleaner energy, including renewables, biofuels, sustainable aviation fuel, and green hydrogen.

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