India's demand for crude is assessed at 8.2 million bbl/d by 2040, while domestic production will remain relatively flat at around 1 million bbl/d
India has brought down the import of oil from Iran, with which it has historic and cultural ties, to almost zero
Higher purchases by the world's biggest edible oil importer could support palm oil prices that are under pressure due to sluggish demand amid an expected rise in production
India is exploring ways to get around US sanctions, due to kick in from November 4, to continue buying oil from its third-largest supplier
Sources said India and Iran are discussing reverting to rupee trade after November 4