NEW DELHI – The USA overtook Saudi Arabia as India’s second largest oil provider final month, as refiners boosted cheaper U.S. crude purchases to file ranges and to offset provide cuts from the Group of the Petroleum Exporting Nations and its allies (OPEC+), information from commerce sources confirmed.India’s imports from the world’s high producer rose 48 per cent to a file 545,300 barrels per day (bpd) in February from the prior month, accounting for 14 per cent of India’s general imports final month, the information obtained by Reuters confirmed.
In distinction, February imports from Saudi Arabia fell by 42 per cent from the earlier month to a decade-low of 445,200 bpd, the information confirmed. Saudi Arabia, which has persistently been one among India’s high two suppliers, slipped to No. 4 for the primary time since at the least January 2006.
Nation-wise oil import information for earlier than 2006 shouldn’t be obtainable with Reuters.
Iraq continued to be the highest oil vendor to India regardless of a 23 per cent decline in purchases to a five-month low of 867,500 bpd, the information confirmed.
