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Indian import for Iraqi oil increased in July

Indian import for Iraqi oil increased in July

BAGHDAD: Oil import from Iraq has risen to 31.5% for India in July from a month ago, shipping data showed, allowing the country to retain the top supplier spot for the fourth consecutive month amid declines from sellers such as Venezuela and Iran.

According to ship tracking data, India took 954,400 barrels per day (bpd) of Iraqi oil in July compared with 725,800 bpd in June.

India’s July imports from Iraq are also nearly 50 percent higher than volumes imported in the same month last year, the data showed.

The spike in Iraqi imports comes amid a slump in Venezuelan crude shipments, which fell 31.1 percent from June to 337,100 bpd in July. Venezuelan crude exports have declined as it struggles to secure the light oil needed to dilute its heavy crude grades for export.