Insight Iraq

In-Depth News & Views


Iraq exports 800,000 barrels per day to India in one month

Baghdad ( Iraq shipped more than 800,000 barrels for every working day to India in February, according to info from the Indian Ministry of Commerce and Field.

In accordance to the figures, India’s total imports of crude oil previous thirty day period had been 4.72 million barrels per working day, a lessen of ten per cent as opposed to January. This minimize is much more visible than the preliminary official figures.

Indian refiners purchased 1.51 million barrels of Russian oil for each day in February, building up virtually 32 percent of the country’s overall oil imports as opposed to 28 percent the thirty day period right before.

Dependent on the similar statistics, Indian refineries reduced their day by day imports of crude oil from Iraq to 861,200 barrels, or 32 p.c less than what they experienced been importing in January.

In February, Indian refineries acquired 801,700 barrels of oil per working day from Saudi Arabia, a 13.8 per cent rise about January’s revenue.

As a outcome, OPEC’s regular monthly import share of crude oil into India greater from 54 percent in January to practically 56 p.c in February.