BAGHDAD: Iraq has overtaken Saudi Arabia by a wide margin to become India’s top crude oil supplier, meeting more than a fifth of the country’s oil needs in the current financial year.Saudi Arabia traditionally has been India’s top oil source but in the April-January period of 2017-18, Iraq dethroned it, supplying 38.9 million tonnes (MT) of oil, Oil Minister Dharmendra Pradhan said today.In a written reply to a question in the Lok Sabha, he said Saudi Arabia supplied 30.9 MT of crude oil in the first 10 months of the current financial year.India imported 184.4 MT of crude oil during the period as compared to 213.9 MT in the entire 2016-17 financial year, and 202.8 MT in 2015-16.
Despite India cutting imports over delays in award of contract for a gas field development, Iran continued to be the third largest supplier selling 18.4 MT during April-January.This is the second year in a row that Iran has occupied the third position
Easing of western sanctions in 2015 has led to the Indian refiners raising their purchase from Iran.Kuwait, which was the third largest supplier in 2013-14, has steadily slipped, supplying just 10.2 MT in the first 10 months of the current fiscal. It had in 2014-15 supplied 17.9 MT crude, which came down to 11 MT in 2015-16 and 9.8 MT in 2016-17,
