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Iran leapfrogs Iraq as India's no. 2 oil supplier in Feb -trade data
March 13, 2017 / 8:08 AM / 8 months ago

Iran leapfrogs Iraq as India's no. 2 oil supplier in Feb -trade data

NEW DELHI, March 13 (Reuters) - India’s oil imports from Iran rose nearly 17 percent in February from a month earlier as refiners received less crude from key OPEC producers Saudi Arabia and Iraq after an OPEC deal to cut output, shipping data showed on Monday.

The jump meant Iran replaced regional rival Iraq as India’s second-biggest oil supplier - a role Tehran used to occupy before Western sanctions were imposed against it over the country’s disputed nuclear programme.

While Saudi Arabia remained the biggest oil supplier to India, ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts showed imports from Iran rose to 647,000 barrels per day in February. That was 16.7 percent more than January, and almost trebled from February 2016.

Reporting by Nidhi Verma; Editing by Kenneth Maxwell

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