OIL SUPPLIES TO INDIA

Subject : Economy/ International Relations

Context : The United States overtook Saudi Arabia as India’s second biggest oil supplier.

Concept :

India’s imports from the United States – the world’s top producer – rose 48% to a record 545,300 barrels per day (bpd) in February from the prior month, accounting for 14% of overall imports last month, the data obtained by Reuters showed.
In contrast, February imports from Saudi Arabia fell by 42% from the previous month to a decade-low of 445,200 bpd, the data showed.
Saudi Arabia, which has consistently been one of India’s top two suppliers, slipped to No. 4 for first time since 2006
Iraq continued to be the top oil seller to India despite a 23% decline in purchases to a five-month low of 867,500 bpd, the data showed.