Kepler data recently revealed that India’s oil imports from Iraq increased in July, totaling around 945,000 barrels per day. This represents a significant rise from the previous month’s import of approximately 818,000 barrels daily.
According to an industry expert, India’s daily oil import average for the first seven months of this year (January to July) was 901,000 barrels of Iraqi oil. This is lower compared to the same period in 2020, which had an average of 1.12 million barrels per day, and 2021, which had an average of 699,000 barrels per day.
It is worth noting that Iraq, which was previously India’s primary source of oil, has now been replaced by another supplier and is in second place. This change happened because India started buying Russian oil at a discounted rate, which helped diversify its sources of oil.
In June, the Indian Oil Minister, Hardeep Singh Puri, announced that the country plans to increase its yearly purchase of Iraqi oil. Currently, India buys about one million barrels of oil per day from Iraq.