India’s Iraq oil imports jump to a record in August
New Delhi: India’s oil imports from Iraq surged to a record high in August as refiners replaced costly African imports with cheaper Basra crude, tanker arrival data obtained from industry and shipping sources showed.
The world’s third biggest crude oil importer shipped in about 1.32 million barrels per day (bpd) of Iraqi oil last month, about a third more than July and 29% higher than August 2018, the data showed.
African crude imports fell 18.3% to 764,500 bpd as prices for heavy sweet crudes from Angola, Cameroon and Chad – sought by China’s so-called teapots (small refiners) and major refiners ahead of IMO 2020 – rose.
