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American Oil Exports to India Rise

American Oil Exports to India Rise

India’s oil imports from the US has touched a record high in January 2021. The share of Canada and the United States of America in India’s January oil imports surged to a record 11 per cent while that of the Middle East and South America declined,  according to a news item in The Week.

Quoting Reuters, the publication stated that  India imported  4.8 million barrels per day (bpd) oil in January, a decline of 6 per cent from the previous month and marginally higher than a year earlier. India’s imports from Canada and the United States almost doubled from December to 142,000 bpd and 367,000 bpd, respectively. The United States emerged as the fourth-biggest supplier to India, at a time when India has started to cut back its dependence on the Middle East.

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