Iran outpaces Saudi Arabia as India’s major oil supplier
Director of Bharat Petroleum reportedly said that Iranian crude is a better alternative to Saudi crude with its better yield pattern and short delivery and that it is likely to have a higher share in the Indian market along with Saudi and Iraqi crude.
According to the shipping data from Bloomberg, Iran’s October supplies increased by 56% to 759,700 barrels/day while Saudi supplies were 717,000 barrels/day and Iraq’s were 488,000 barrels/day.
In the July-September period, Iran’s crude supply to India reportedly grew by 51% when compared to the second quarter. Saudi Arabia’s sales to India increased by 10% whereas Iraq’s supplies decreased by 8% on a quarterly basis.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PP and PE markets set to rebound from two-year lows in Europe
- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets