Indian refiners may take less Saudi oil next year if contract terms are 'unfavourable' SECTIONS Share Synopsis Refiners want ‘price flexibility’ and ‘certainty of supply’ even during times when production falls due to various reasons, he said. The annual contract permits Saudi to cut supplies to the buyer in the event of the organisation of petroleum exporting countries (OPEC) agreeing to artificially reduce production, the person said, calling the provision ‘unfavourable’ to the buyer. Agencies Indian state refiners may seek a smaller purchase deal for Saudi oil next year to pres...