🇮🇳📉RISING ROLE OF WEST ASIA IN INDIA’S OIL IMPORTS:
🇮🇶 Iraq’s increased share:
Iraq emerged as a key beneficiary, with imports jumping 29% to 1.13 million bpd.
Iraq’s share in India’s oil imports rose from 18.7% in November to 24% in December...
🇦🇪 UAE’s growing presence:
UAE imports hit a 32-month high of 530,000 bpd, up 22.1% month-on-month.
UAE’s share increased to 11.2% in December, up from 9.2% in November.
🇸🇦Saudi Arabia’s moderate gains:
Imports from Saudi Arabia rose 4.4% to 649,000 bpd.
Riyadh’s market share grew marginally to 13.8%.
However, Saudi Arabia was unable to capitalise on the opportunity due to its barrels being priced higher than Iraqi and Emirati oil....