Saudi Arabia To Supply 4 Million Barrels Of Extra Crude Oil To India In November As Iran Sanctions Loom


Saudi Arabia To Supply 4 Million Barrels Of Extra Crude Oil To India In November As Iran Sanctions Loom

Saudi Arabia, the world`s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday.

The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions by the United States on oil exports from Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), start up on Nov. 4.

India is Iran`s top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions. Read more

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