2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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U.S.A.
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Russia
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Iceland
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Maldives
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Detailed explanation-1: -India is moving to store oil in the US, and this is the first time India is creating an emergency reserve abroad.
Detailed explanation-2: -Vortexa said that India imported 803, 228 bpd of oil from Iraq in December and 718, 357 bpd from Saudi Arabia. The United Arab Emirates (UAE) overtook the US to become India’s fourth largest supplier, selling 323, 811 bpd oil in December 2022. The United States supplied 322, 015 bpd, down from 405, 525 bpd in November 2022.
Detailed explanation-3: -Venezuela has the largest amount of oil reserves in the world with more than 300 billion barrels in reserve. Saudi Arabia has the second-largest amount of oil reserves in the world with 297.5 billion barrels.
Detailed explanation-4: -India’s crude oil imports from US dip by one million tonnes in June quarter | Business Standard News.
Detailed explanation-5: -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.