NEW DELHI (Reuters) - India’s oil imports rose 4.6 percent in February from a year earlier to about 5 million barrels per day (bpd), according to tanker arrival data from shipping and industry sources.
India’s February imports on the basis of tanker arrivals were at a record high although some cargoes were discharged in March.
The share of Middle Eastern oil in India’s imports declined to about 63 percent in February compared with about 70 percent in the same month last year, although Iraq continued to be the top oil supplier to India, followed by Saudi Arabia. The share of South American and African oil rose in February, the data showed.
India’s oil imports from Iran fell by 60 percent in February from the same month a year earlier to about 260,000 bpd. Iran was the eighth biggest oil supplier to India in February compared with seventh in January and slipped from the third position it held a year ago.
Reporting by Nidhi Verma; editing by David Evans