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Iraq is the largest oil exporter to India

Category: Economy

Date: 2020-02-05T09:27:34+0000
Iraq is the largest oil exporter to India

Shafaq News / The economic data of the General Department of Trade Information and Statistics of the Indian Ministry of Trade showed that Iraq continues to be the largest source of crude oil to India, followed by Saudi Arabia, despite the decline in the Middle East’s share of the country's total imports of crude oil.

Bloomberg News reported that India imported 222.2 million tons last year, compared to 225 million tons in 2018. The country's imports from the Middle East declined from 145.8 million tons in 2018 to 132.4 million tons last year.

India's imports of Iranian oil fell sharply last year due to the U.S. sanctions on Tehran, as these imports reached 6 million tons, compared to 25.7 million tons in 2018.

In contrast, India's imports of African oil increased to 35.5 million tons last year, compared to 32.5 million tons in 2018. And US oil imports increased to 9.1 million tons last year compared to 4.86 million tons in 2018.

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