NEW DELHI: India’s shipped-in 7.2 per cent more oil in November compared with a year ago, ship tracking data obtained from sources and compiled by Thomson Reuters Oil Research & Forecasts showed, with Iran’s share in the overall imports declining to its lowest level in eight months. India has slowed down imports from Iran to restrict annual shipments to within the permissible limits of Western sanctions.
Indian refiners together bought about 138,100 barrels per day (bpd) oil from Tehran, a decline of about 24 per cent from a year ago, and equivalent to about 3.3 per cent of New Delhi’s overall imports during the month. India, the world’s fourth biggest oil consumer, shipped in about 5 per cent more oil last month compared with October at 4.14 million bpd, the data showed.
Imports from the Middle East in November surged to their highest level in eight months, reflecting an increase in the region’s share in overall purchases to about 60 per cent from about 56 per cent last month.
