Saudi Arabia to supply extra oil cargoes to India in November as Iran sanctions loom
SINGAPORE/NEW DELHI (Reuters) - Saudi Arabia, the world’s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said.
The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions by the United States on oil exports from Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC),
India is Iran’s top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions.
Reliance Industries Ltd, Hindustan Petroleum Corp, Bharat Petroleum Corp
Three of the companies did not immediately reply to an email from Reuters seeking comment. MRPL replied “no comments” when contacted by email.
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