India oil imports from Iran increases

Essar shipped about 223,000 bpd of Iran's oil to India in February, compared with 204,500 bpd in January, Times of India wrote.

All in all, the oil import of India from Iran shows a 1.3% growth in February.

India is the second biggest importer of Iranian oil after China. India uses 4.6 mbd of oil and was one of the few countries that continued to buy oil from Iran during the sanctions era.

India's need for oil is addressed mostly by Iraq, Saudi Arabia and Iran. The need is increasing because of the surge in the number of motor cars and expansion of the middle class. International Energy Agency (IEA) predicted that in 2040, India will consume 1/4 of the total energy produced in the world.

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