India increased its import of oil from Iran by more than 10 percent in May, reports Reuters. The article says that this is part of the preparations for reducing the purchase of oil from Iran since August 2018.
India has imported 705,000 barrels per day (bpd) in May, to reach the highest import of oil from Iran since October 2016.
Reuters says that Iran’s sale of oil to India will probably drop since June as two Indian major refineries which count for about 35% of India’s refining capacities are preparing to curb purchase due to the return of U.S. sanctions. India, after China, is the second largest oil client of Iran.
See the original article: Indian oil imports from Iran surge to highest since 2016
