OPEC’s share of crude imports in India dropped last year to the lowest in at least 15 years, as the world’s third-largest oil importer bought more crude from North America to offset the inability to buy from Iran and Venezuela, Reuters has estimated, based on data obtained from industry sources. OPEC continued to hold the largest share of India’s oil imports, but that share fell to 70 percent last year.
To compare, back in 2008, India’s crude oil imports from the organization’s producers stood at 87 percent. India…Market Shrugs Off Biden's Readiness To Tackle Oil Price Rally
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