Saudi Arabia becomes India's second largest oil supplier

Saudi Arabia becomes India's second largest oil supplier

Daily Current Affairs / Saudi Arabia becomes India's second largest oil supplier

Change Language English Hindi

Category : Business and economics Published on: September 20 2022

Share on facebook

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed.
India, the world's third biggest oil importer and consumer, shipped in 8,63,950 barrels per day (bpd) of crude from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 8,55,950 bpd, the data showed.
In August, the United Arab Emirates stayed at No. 4 while Kazakhstan replaced Kuwait to become fifth-largest oil supplier to India, followed by the United States.
India has become Russia's No. 2 oil buyer after China as others have cut purchases following Moscow's invasion of Ukraine in late February.

Recent Post's

India's household debt rises to 23.9% of GDP in FY25, signaling post-pandemic financial stress.
Read More....
PM Modi distributes over 51,000 appointment letters at 15th Rozgar Mela across 47 locations.
Read More....
India and Bhutan hold the 6th Joint Group of Customs Meeting in Thimphu on April 24–25, 2025.
Read More....
Cheetah Nirva gives birth to five cubs at Kuno, raising India’s cheetah count to 31.
Read More....
Indian companies send goods worth ₹85,000 crore annually to Pakistan via Dubai, Singapore, bypassing restrictions.
Read More....
India signs agreement with France for 26 Rafale-Marine aircraft for Navy.
Read More....
Delhi launches ₹10 lakh free health cover under Ayushman Vay Vandana for citizens aged 70+.
Read More....
Karnataka-based humanitarian Madhusudan Sai receives Fiji’s highest civilian award.
Read More....
President Droupadi Murmu confers Padma Awards to 71 achievers, including Shekhar Kapur and R. Ashwin.
Read More....
Start-up ‘Sarvam’ to build India’s first AI large language model under ₹10,370 crore IndiaAI Mission.
Read More....