NEW DELHI: Saudi Arabia replaced Iraq as the top oil supplier to India in April after a gap of three months as refiners in Asia’s third largest economy were drawn by deep discounts on Saudi crudes, data obtained from sources showed.
Refiners in India, the third largest oil importer, requested higher volumes for April from Saudi Aramco and UAE’s Abu Dhabi National Oil Co (ADNOC), which both increased output while cutting prices last month.
India’s oil imports in April totalled 4.63 million barrels per day (bpd), up 5% from March but down 4.1% from April 2019, the data showed.
