You are here: Home » Economy & Policy » News
Business Standard

Iraq replaces Saudi Arabia as top oil supplier to India in April

Imports from Iraq topped 1 mn barrels per day for the first time, up by 8% from a year ago

Reuters  |  New Delhi 

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. "Basra heavy is good for refineries with coker units, it is also good for ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, May 17 2017. 15:59 IST