Iran has overtaken Saudi Arabia as India’s number two oil supplier in the April-June quarter, India’s oil minister said on Monday. Iraq remains India’s number-one supplier of crude. While Iran ousted Saudi Arabia as the number two oil supplier, Iran’s oil shipments to India year over year are down. Iraq’s, on the other hand, have increased, perhaps as India looks to wind down shipments ahead of US sanctions on Iran that go into effect in November 2018. In the period from April to June, India purchased 5.22 million tons of oil from Saudi Arabia, 5.6 million tons from Iran, and 7.27 million tons from Iraq. But yearly figures (which run from April to March) show a decline in the amount of oil India imported from Iran: 9.8 million tons in the year ending March 2018, versus 13.04 million tons in the year ending March 2017—an almost 25 percent decline […]