After sanctions on russia and iran, india now gets a new supplier!
Crude oil exports from America to india reached a two-year high last month. After US sanctions on Russian oil producers and tankers, india was looking for alternative suppliers. Kpler's ship tracking data shows that about 357,000 barrels per day (bpd) of crude oil was exported from America to india, the third largest oil importer and consumer in the world. Whereas last year it was about 221,000 barrels per day.
india looking for a supplier of crude oil
This increase in crude oil exports to india is an indication that india is facing difficulties in crude oil trade with these countries after several rounds of sanctions imposed by the US on ships and companies bringing oil from iran and russia since October. india said last month that energy purchases from the US could rise to $25 billion in the near future from $15 billion last year. "Due to the recent US sanctions on Russian ships, india is looking for crude oil supplies from elsewhere," said Rohit Rathod, senior analyst at ship tracking firm Vortexa.
Most buying and selling happened between them
According to the data, about 80 percent of the crude oil exported to india was of light sweet West texas Intermediate-Midland crude. Top buyers include indian oil Corporation, reliance Industries and Bharat Petroleum Corporation, while most oil was sold from oil producers and companies from the US such as Occidental Petroleum, Equinor and Exxon Mobil and trading house Gunvor.
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