Oil & Gas Saudi Arabia Back as India's Top Crude Supplier – Takes Pole Position From Iraq
Saudi Arabia’s crude oil shipments to India in April grew at a healthy 25.3 per cent from the previous month, helping the Middle Eastern supplier to snatch back the position as the top supplier from Iraq, which saw its volume growing at a relatively slower pace of 19.8 per cent compared with the previous month.
Saudi Arabia’s move to the top spot came despite its yearon-year volume falling by 2.6 per cent to 3.74 million mt (913,807 b/d), according to the latest shipping data obtained by Platts and cFlow, Platts trade flow software. However, India’s cumulative imports of Saudi crude in the January–April period was up 14.2 per cent, at 14.73 million mt. On the contrary, Iraq stepped down to the second spot in April despite shipments posting a year-on-year growth of 66.5 per cent to 3.61 million mt.
Iraq’s cumulative supply to India also grew strongly by 59.2 per cent in the January–April period to 13.43 million mt. The data also showed that Indian imports of Nigerian crude sales posted the sharpest year-on-year growth among all suppliers to India in April, surging 111 per cent to 1.93 million mt. Nigeria also saw its April supply to India rise 64.5 per cent from the previous month.