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Posted at: Oct 11, 2018, 12:21 AM; last updated: Oct 11, 2018, 12:21 AM (IST)

S Arabia to supply 4m barrels extra oil to India

Fallout of UScurbs on Iran

  • India is Iran’s top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions
  • Reliance Industries, Hindustan Petroleum, Bharat Petroleum and Mangalore
  • Refinery Petrochemicals Ltd are seeking an additional 1 million barrels each in November from Saudi Arabia
  • .

Singapore/Delhi, October 10

Saudi Arabia, the world’s biggest oil exporter, will supply Indian oil buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday.

The extra supply indicates a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions by the US on oil exports from Iran, the third-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), start up on November 4. India is Iran’s top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions.

Reliance Industries, Hindustan Petroleum, Bharat Petroleum and Mangalore

Refinery Petrochemicals Ltd are seeking an additional 1 million barrels each in November from Saudi Arabia, the sources said. — Reuters

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