Iran Becomes 3rd Major Oil Supplier to India

Iran stands the third major supplier of oil to India after Saudi Arabia and Iraq for exporting more than 500,000bpd crude to the country.

Based on the statistics available, India imported 4,350,000bpd oil on the average in the first three months of 2016, showing about 500,000 bpd increase in the imports compared to the amount in the same period last year, Shana reports.

India’s crude imports in the period showed decrease of about 40,000bpd compared to that in the fourth quarter of 2015.