India`s 2016 Iran Oil Imports Hit Record High

India`s annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran. according to a report compiled by Reuters Oil Research and Forecasts.
The sharp increase propelled Iran into fourth place among India`s suppliers in 2016. up from seventh position in 2015. It used to be India`s second – biggest supplier before sanctions.
For the year. the world`s third biggest oil consumer bought about 473000 barrels per day (bpd) of oil from Iran to feed expanding refining capacity. up from 208.300 bpd in 2015. the data showed.

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