CURRENT AFFAIRS

2018

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which country overtakes Saudi Arabia as India’s biggest Oil Supplier?
A
Iraq
B
Iran
C
Indonesia
D
Saudi Arabia
Explanation: 

Detailed explanation-1: -India, the world’s third biggest oil importer and consumer, shipped in 8, 63, 950 barrels per day (bpd) of crude from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 8, 55, 950 bpd, the data showed.

Detailed explanation-2: -Russia, which made up for just 0.2% of all oil imported by India in the year until March 31, 2022, supplied 935, 556 barrels per day (bpd) of crude oil to India in October – the highest ever. It now makes up for 22% of India’s total crude imports, ahead of Iraq’s 20.5% and Saudi Arabia’s 16%.

Detailed explanation-3: -Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec.

Detailed explanation-4: -Russia now supplies almost 22% of India’s total crude imports, ahead of Iraq’s 20.5 per cent and Saudi Arabia’s 16 per cent.

Detailed explanation-5: -At the same year, Crude Petroleum was the 1st most exported product in Saudi Arabia. The main destination of Crude Petroleum exports from Saudi Arabia are: China ($24.7B), Japan ($15.1B), South Korea ($12.8B), India ($11.1B), and United States ($6.59B).

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