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Commodities Briefing - Categorized | Market Moves, Oil more

Iran overtakes Saudi as top oil supplier to India

Posted on 18 November 2016

Iran overtook political rival Saudi Arabia as India’s top oil supplier in October, shipping data showed, just ahead of a producers’ meeting this month to hammer out the details on output cuts aimed at reining in a global glut.
Iran used to be India’s second-biggest oil supplier, a position it ceded to Iraq after tough Western sanctions over its nuclear development programme limited Tehran’s exports and access to finance. But India’s oil imports from Iran have shot up this year after those sanctions were lifted in January……………………………………..Full Article: Source


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