Iraq replaces Saudi as top oil supplier to India in April: Trade flow data


Iraq replaces Saudi as top oil supplier to India in April: Trade flow data

Iraq replaced Saudi Arabia as top crude supplier to India in April as refiners moved to boost their processing margins by purchasing the cheaper Basra Heavy oil grade, ship tracking and Thomson Reuters trade flow data showed.

India’s April imports from Iraq topped 1 million barrels per day (bpd) for the first time, up by about a third from March and 8 percent from a year ago, according to ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts. Read More…

 

 

Credit By: The Economic Times

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