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Iraq dethrones Saudi Arabia as India’s No. 1 oil supplier

iraq oil

Iraq has been India’s largest supplier of crude oil for the last three months, shipping data from Bloomberg has revealed. This means that OPEC’s number-two has dethroned the cartel’s leader—Saudi Arabia—which has been the top supplier in the world’s fastest-growing market in terms of oil consumption.

Iraq produced almost a quarter of the oil India imported last month, or 23 percent, exporting at a daily rate of 1 million barrels. That is compared to a monthly average export market share of 19 percent for the prior four months.

Saudi Arabia, on the other hand, supplied 17 percent of the crude India read more >>>

Source:: BusinessInsider.Com

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