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Saudi, Iraq Sell More Oil to India, Elbow Out Latin America Crudes

stander
stander
in Oil, Gas and Energy News

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NEW DELHI, Feb 19 (Reuters) - India's oil imports from Saudi Arabia and Iraq hit the highest in more than a decade last month as OPEC's top producers gained at the expense of Latin American crudes, a validation of the OPEC policy of maintaining output and fighting for market share.


Competitive prices and shorter shipping distances are giving the Middle East members of the Organization of the Petroleum Exporting Countries (OPEC) the upper hand in India, the world's third-largest crude oil importer.



http://www.downstreamtoday.com/news/article.aspx?a_id=51154


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