BPCL Buys 1 Million Barrels of U.S. WTI for Mumbai Delivery

Bharat Petroleum Corporation Limited (BPCL) bought 1 million barrels of U.S. West Texas Intermediate (WTI) crude for Mumbai, at about $18 per barrel above Dated Brent.

The delivery window runs from late December 2026 to early January 2027. The reported terms do not identify the seller or give a total cargo price, and BPCL has not publicly confirmed the purchase.

BPCL expects fewer Russian crude purchases in November. The expectation has been part of BPCL's November crude-buying outlook. BPCL Director of Finance Vetsa Ramakrishna Gupta said Oct. 26 that Persian Gulf grades were more commercially viable than Russian grades when freight costs and available cargo economics were considered. “PG grades actually more commercially viable compared to Russian grades,” Gupta said on the company's earnings call.

U.S. crude accounted for about 9% of BPCL's crude sourcing mix from July through September 2026.