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India’s Second Largest Oil Supplier after Iraq

Published on March 16, 2021
Current Context: As per the analysis of trade data, Iraq is continued to be top oil supplier to India for Feb 2021. However, there is a decline of 23% in purchases to a five-month low of 867,500 bpd (barrels per day).
India’s Second Largest Oil Supplier after Iraq
  • The United States has become India's second biggest oil supplier for Feb 21 by surpassing Saudi Arabia.
  • As per the data, India’s imports from the US raised to 48% with a record of 545,300 bpd for last month which has led to 14% of overall imports from last month of India.
  • In all, India shipped 3.92 million bpd of oil in Feb 2021.
  • The third and fourth largest suppliers of oil to India are Nigeria and Saudi Arabia respectively.
  • The reason behind oil supply increased from the US is that the crude oil which is supplied by the US is relatively cheaper as compared to oil supplied by OPEC nations.
  • Static Part: 
    • HQ of OPEC: Vienna, Austria

Question: 

Q.1 Which country was the largest oil supplier to India after Iraq being the top most for Feb 2021?
a. Nigeria
b. Saudi Arabia
c. USA
d. UAE
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