Iraq Surpasses Saudi as India's Second-Largest Oil Supplier
India's oil imports from Iraq saw a significant surge in September, making Baghdad the second-largest oil supplier to New Delhi. According to data from Kpler, a leading data platform that tracks commodity flows and maritime shipping, India imported approximately 579,000 barrels per day of Iraqi crude between September 1 and 27. This represents a substantial increase from August's imports, which stood at 163,000 barrels per day.
Iraq surpassed Saudi Arabia as the second-largest oil supplier to India in September, with Russia remaining the largest. The total volume of crude oil imported by India in September reached around 5.25 million barrels per day, a 13% increase compared to August's average imports of 4.65 million barrels per day.
India's move to diversify its crude import sources was aimed at minimizing the risks associated with shipping difficulties through the Straits of Hormuz. The Indian Ministry of Petroleum and refining companies officials stated that this measure is intended to improve supply security and reduce reliance on a single supplier.