Iraq overtakes Saudi Arabia as top Oil supplier to India
December 19th, 2017
Iraq overtook Saudi Arabia for the first time to become India’s top crude oil supplier in the current fiscal, according to the Oil Minister Dharmendra Pradhan. Saudi Arabia traditionally has been India’s top oil source but in the April-October period of 2017-18, Iraq dethroned it, supplying 25.8 million tonnes (MT) of oil. Iran was India’s second biggest supplier of crude oil after Saudi Arabia till 2010-11 but western sanctions over its suspected nuclear programme relegated it to the 7th spot in the subsequent years. Iran fell to third and Venezuela is in fourth followed by Nigerial.