US becomes India's second biggest oil supplier, Saudi plunges to fourth spot



NEW DELHI: The United States overtook Saudi Arabia as India’s second biggest oil supplier last month, as refiners boosted cher US crude purchases to record levels to offset Opec+ supply cuts, data from trade sources showed.


The switch in supplies, triggered by lower US crude demand, coincided with Saudi Arabia’s voluntary extra 1 million bpd output cut on top of an agreement by the Organization of the Petroleum Exporting Countries and its allies (Opec+) to maintain lower production.


India’s imports from the United States - the world’s top producer - rose 48% to a record 545,300 barrels per day (bpd) in February from the prior month, accounting for 14% of overall imports last month, the data obtained by Reuters showed.


In contrast, February imports from Saudi Arabia fell by 42% from the previous month to a decade-low of 445,200 bpd, the data showed.


Saudi Arabia, which has consistently been one of India’s top two suppliers, slipped to No. 4 for the first time since at least January 2006.


India’s oil import data by country for before 2006 is not available with Reuters.


“US demand was weak and refineries were running at low rates so the US crude had to go somewhere and Asia is the region which has seen rapid demand recovery,” said Ehsan Ul Haq, analyst with Refinitiv.

Refinitiv分析师艾山•哈克(Ehsan Ul Haq)表示:“美国需求疲弱,炼油厂开工不足,因此美国原油不得不流向其他地方,而亚洲是需求迅速复苏的地区。”

“ has not been taking US oil because of trade problem so India is the obvious choice,” he said.


India, the world’s third biggest oil importer and consumer, had repeatedly called on major oil producers to ease supply curbs to aid global economic recovery and had pointed to Saudi Arabia’s voluntary cuts for contributing to a spike in global oil prices.



Biranchi Narayan Acharya

It's time to invest in EVs. The oil import is technically killing the Indian economy.



Rupesh Mehta

India should import more oil from US,Russia,Brazil,Meco and African Countries.



Pavitra Ranjan Swain

US deals are relatively transparent. So cut money to middleman will be less and our Go nment may not like that.



Vikas Shelke

So this govt is looting indian fuel consumer s to keep Americans happy by purchasing american fuel at 3 times the cost .



Readin Betwe

Good there needs to be a substitute for the hegemony of Arab nations and OPEC in crude oil . Anyways their reserves are also dwindling and could last max 20-30 years by that time EV would have become a house hold choice across the world



Hate X Love

Another option can be Venezuela. India can get better bargain buing venezuelian oil.



Hate X Love

If we can reduce our dependency on oil Import, this will boost Indian economy... whatever country earn most of goes in buying Oil... It is time to switch to alternative energy



Amit Thakkar

buy always from the chest exporter



A B Quadri

India importing Oil from USA and NOT Importing from GULF ---- No wonder GULF sacking Indians and sending Home --- One of GULF Minister recently said | We are giving 130 Billion Dollars to India and not getting anything in return " --- Definitely US Oil more costly than GULF Oil --- Maybe some other reasons and compulsions are there




Very good. These arabs in OPEC are thankless barbarians. India supported them to cut production to prevent plummeting of oil price in mid 2020. But now that situation is back to normal these greedy bunch in OPEC wants to increase price to compensate the reduction of profit in early 2020. I hope thes arab countries wilp vol pse and turn into syria/iraq. Thats what they deserve


现在情况恢复正常了,这些贪婪的欧佩克成员却想要提高油价,以弥补2020年初减少的利润。我希望阿拉伯国家崩 溃,希望他们步叙利亚/伊拉克的后尘。这是他们罪有应得。



Cut all crude supply from gulf countries as they are doing monopoly.



Raj Mehta

India has lot of Sun energy. India can separate H2O (Water) into Hydrogen and Oxygen and use Hydrogen for Auto fuel. Recently Toyota release open sources of Hydrogen protocol to the world. India can take advantage of it. I know India had lot of power.




Win win situation for India. The US provides us cher crude oil. Importing from the US will keep some American critics shut as the trade imbnce between the US and India won't be as lopsided as it has been historically. Moreover, Saudi will feel the ch of decreasing revenue from India and may be compelled to assuage India by offering discounts to India. Saudi should know that its hegemony on global oil supply is likely to last only till the sanctions ag inst Iran and Venezuela are lifted.




What about Iran? Hahaha


Palyam Docs

Iran is Under UN sanctions.




Venezuela should be tapped. Ask US not to sanction India if we buy Venezuelan oil



Nutz Nutz

India buying crude from US since 2018 under a contract for 72 dollar a barrel while global prices ranged from 35-65 dollar


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