Saudi beats Russia to become India’s second-largest oil supplier in August

Saudi Arabia has replaced Russia as the second-biggest oil importer to India after a three-month gap, even as New Delhi’s share of oil from OPEC dipped to at least 16-year low of 59.8% as it cut African imports.

India, the world’s third biggest oil importer and consumer, shipped in 863,950 barrels per day (bpd) of crude from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 855,950 bpd, Reuters reported citing data from industry and trade sources.