India eyes trialling Guyanan crude ahead of long-term deal: Reuters

London, (Quantum Commodity Intelligence) - India is to trial Guyana's crude oil with a view to signing a long-term deal to buy the South American country's crude, Reuters reported.

The world's third-biggest importer of crude may buy a 1-million barrel cargo that Guyana's government owns as a result of offshore production that started in late 2019.

The idea is to test the light, sweet crude in Indian refineries before signing a long-term deal, the news agency said, citing Guyana's Natural Resources Minister Vickram Bharrat.

The announcement comes as India has expressed vocal opposition to crude cuts by the OPEC+ cartel and is seeking to diversify its crude supply.

"First and foremost is us getting the best price for our crude," Reuters cited Bharrat as saying in a telephone interview.

Guyana relies on private companies to sell its crude on its behalf as it does not have its own refineries, although it has been keen to find a company to market its crude for it.

Its next cargo is due to load in June.