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2016-02-20 20:50:00

THE HIGHEST INDIAN OIL

THE HIGHEST INDIAN OIL

India's oil imports from Saudi Arabia and Iraq hit the highest in more than a decade last month as OPEC's top producers gained at the expense of Latin American crudes, a validation of the OPEC policy of maintaining output and fighting for market share.

Competitive prices and shorter shipping distances are giving the Middle East members of the Organization of the Petroleum Exporting Countries (OPEC) the upper hand in India, the world's third-largest crude oil importer.

Saudi Arabia was the top supplier to India in January, with volumes jumping 29 percent from the same month a year ago to nearly 940,000 barrels…

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Tags: INDIA, OIL, SAUDI, IRAQ
Chronicle:
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