Tanker India Iraq has now overtaken Saudi Arabia in crude oil exports to India, shipping some 960,700 barrels per day (bpd) to India in April, against Saudi Arabia’s 787,700 bpd in exports to the Asian nation, turning the tables on the Saudis and placing Iraq at the top of the chain of OPEC members grappling for market share in this growing economy. Iraq’s oil exports to India rose by 41 percent in April and by 79 percent compared to a year ago. At the same time, Saudi Arabia’s exports to India were down 14 percent in April over the same time last year. Overall, Iraq accounted for 22 percent of India’s crude oil imports in April, while last year it accounted for 15 percent. Saudi Arabia’s India crude oil market share dropped to 18 percent, down from 25 percent last year. Related: Iran Hits Saudis Where It Hurts, Offers […]