INFO:

India's state refiners, including Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum, are exploring Middle Eastern crude options as Russian oil spot supplies dwindle. Refiners are short 8-10 million barrels for January loading, citing rising domestic demand in Russia and commitments under the OPEC pact. In another development, Türkiye's minimum wage will rise by 30% in 2025 to 22,104 lira or $630, impacting nine million workers. Economists predict this could increase annual inflation by up to five percentage points. Watch NDTV'S The World Report for the latest updates.