You are here: Home » Markets » Commodities » Energy
Business Standard

At 73%, India's oil imports from OPEC nations hit lowest since 2011

OPEC's share of India's imports in September was about 81 per cent although total volumes were lower

Oil imports | Crude Oil | India oil imports

Reuters  |  New Delhi 

OPEC'S share of India's oil imports fell to 73 per cent in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. India, which usually imports about 80 per cent of its needs from members of the Organization of the Petroleum Exporting Countries, has been diversifying its sources of oil as local refiners have upgraded plants to process cheaper crude grades. India, the world's third biggest oil importer, shipped in 4.56 million barrels per day (bpd) of oil in October, ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, November 18 2019. 19:34 IST