[size=36]In 2021... Iraq will maintain its position as the "largest" oil exporter to India[/size]
[You must be registered and logged in to see this link.][You must be registered and logged in to see this link.]
, OPEC's share of Indian oil imports fell to the lowest level in at least 15 years, while Iraq maintained its position as India's largest oil exporter.
And industrial data, followed by Mawazine News, showed today, Saturday, that the OPEC share of Indian oil imports fell in 2021 to its lowest level in more than a decade, despite the recovery of annual crude oil purchases by four percent for the third largest oil importer in the world.
Members of the Organization of the Petroleum Exporting Countries (OPEC), mostly from the Middle East and Africa, saw their share of India's oil import shrink to 70% in 2021, from a peak of 87% in 2008.
The data showed, that India's crude oil imports rebounded 3.9% to 4.2 million barrels per day in 2021, but it remained below pre-pandemic levels in 2019.
The data showed that India's oil imports jumped in December 2021 to an 11-month high of about 4.7 million barrels per day, up about 5% from November, but still 7.8% lower than the previous year.
The data showed that the share of OPEC decreased, with refineries increasing imports from Canada and the United States at the expense of Africa and the Middle East.
US and Canadian oil accounted for 7.3% and 2.7% of India's imports, respectively, compared to 5.5% and 0.7% a year earlier.
According to the data, Iraq has been India's largest supplier in 2021 since it surpassed Saudi Arabia in 2017.
It is expected that Iraqi supplies to India will increase in 2022 as Hindustan Petroleum Corporation (HPCL) will raise 45% of crude oil to expand its refining capacity. Ended 29/A 4