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India is one of the world’s largest importers of crude oil, and it relies heavily on countries in the Middle East and Russia for its supply. According to Live Mint, India bought $2.03 billion in crude oil from Iraq in February 2023, making it the third largest exporter of crude oil to India after Russia and Saudi Arabia.
Iraq has been a significant supplier of crude oil to India for many years, and the two countries have maintained strong economic ties. In fact, Iraq is the second-largest oil supplier to India after Saudi Arabia, accounting for about 18% of India’s crude oil imports.
In February 2023, India imported crude oil worth $3.35 billion from Russia, making it the largest exporter of crude oil to India. Russia has been increasing its oil exports to India in recent years, and the two countries have been exploring ways to expand their energy cooperation.
Saudi Arabia was the second-largest exporter of crude oil to India in February, with imports valued at $2.30 billion. Saudi Arabia has traditionally been India’s largest supplier of crude oil, and the two countries have a long-standing energy partnership.
