Iraq and Saudi Arabia trounce South America's oil sales to India
History of edits:: 2016/2/19 16:04 66 visits readable
Iraq and Saudi Arabia trounce South America's oil sales to India
[Oan- follow-up]
India's imports of oil from Saudi Arabia and Iraq reached the highest level in more than a decade last month.
Countries where the largest producers achieved the Organization of Petroleum Exporting Countries [OPEC] gains at the expense of South America, indicating the effectiveness of the Organization's efforts to maintain production and to defend market share policy.
Topped Arabia List of suppliers to India in January jumped oil exports 29 percent compared to the same month last year to reach about 940 thousand barrels per day as shown by tracing the ships coming from sources and data compiled by Thomson Reuters Research and expectations of oil Friday data.
Iraq came in second place, up from its oil sales to India, 52 percent in January from January 2015 to reach 930 thousand barrels per day.
And it reached the daily rates of the two countries, exporters of raw highest level since at least 2001, according to data available to the Thomson Reuters ICON service.
In contrast, total imports from South America fell by a quarter in January compared to a year ago to reach 706 thousand barrels per day, according to the data.