Nigeria overtakes S. Arabia to become India’s top oil supplier
India’s oil exports from African countries, mainly Nigeria and Angola, reached the highest level in more than four year in May, bringing Africa’s market share up to 26% from 15.5% in the previous month. Middle Eastern countries’ share in India’s oil market, meanwhile, reportedly declined to 54% from 61% in April.
In May, Saudi Arabia also lost its leading position in China’s oil market. Russia exported 3.92 million metric tons (927,000 barrels per day (bpd)) of crude oil to China in May to become the country’s top oil supplier for the first time since October 2005 while Saudi Arabia exported 3.05 million tons of crude to China in May.
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