Iraq jumped to 1st position as oil supplier to India in April

Shafaq News / Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world's No. 3 oil consumer and importer, tanker tracking data showed.

Russia's share in India's oil purchases rose to a record 6%, about 277,000 barrels per day (bpd) in April, up from about 66,000 bpd in March, when it was in 10th position, according to the data, which was supplied by trade sources.

Last month, Iraq continued to the top oil supplier to India, followed by Saudi Arabia and the United Arab Emirates.

In April, Indian refiners shipped in 4.7 million bpd of oil, up 6.9% from the previous month and about 11.6% higher than a year earlier, when a second Covid-19 wave hit local oil demand.

India's oil imports in April were high as refiners raised runs to meet local demand and gain from robust refining margins, Haq said.

(The Times of India)