Saudi overtakes Russia to be India’s second-biggest oil supplier in August
NEW DELHI: Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed.
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, the data showed.
Despite Saudi’s gain, the share of oil from Organization of the Petroleum Exporting Countries in India fell to 59.8%, the lowest in at least 16 years as India cut African imports.
