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Oil imports from US to rise

Date: 22 March 2022 Tags: Basics of Economics
  • India’s oil Imports from the US set to increase by 11% even after India purchased crude oil from Russia amidst the war crisis.
  • With an overall increase of 11% as compared to last year, the US will now supply 8% of India’s total imports in crude oil.
  • India’s oil imports are majorly directed by Iraq which supplies 23% of our oil needs, followed by Saudi Arabia at 18% and the UAE by 11%.