India's Oil Imports from Iran Rises in February
India’s oil imports from Iran rose by about 1.3 per cent in February compared to last year, according to shipping and industry data quoted by a report in the Economic Times.
India shipped in 655,500 barrels per day (bpd) of oil from Iran in February, about a third more than the previous month, the data showed. In April 2017-Feb 2018, the first 11 months of this fiscal year, India imported 15 per cent less oil from Iran at about 461,000-bpd.
India’s overall oil imports rose 14.6 per cent in February from a year earlier to about 4.8-mn bpd. India’s oil imports from Venezuela in February fell to the lowest since April 2012, as a severe economic and political crisis hit crude output in the South American OPEC member. The share of African oil in India’s overall purchases in February rose, while the Latin American and Middle Eastern share declined, the data revealed.
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