U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4 – Reuters

U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4 – Reuters

NEW DELHI (Reuters) - The United States overtook Saudi Arabia as India's second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed.Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS/Thomas White/IllustrationThe switch in supplies, triggered by lower U.S. crude demand, coincided with Saudi Arabia's voluntary extra 1 million barrel per day (bpd) output cut, on top of an agreement by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to maintain lower production.India's imports from the United States - the world's top producer - rose 48% to a record 545,300 bpd in February from the prior month, accounting for 14% of India's overall imports last month, the data obtained by Reuters showed.In contrast, February imports from Saudi Arabia fell by 42% from January to a decade low of 445,200 bpd, the data showed. Saudi Arabia, which has consistently been one of India's top two suppliers, slipped to No. 4 for the first time since at least January 2006.India's oil import data by country from before 2006 is not available to