Crude oil-sourcing map shows early signs of change

Countries like Chad, Angola and Cambodia make an appearance

The global crude oil market today is a buyer’s market, and India - as one of the major markets for crude oil - is broad-basing its fuel sourcing, in terms of geography.

While the ranking of the top suppliers to India in the West Asian market is changing, countries like the Congo Republic, Angola, and Brazil also figure on India’s crude oil-sourcing map.

This change in sourcing dynamics has also changed the ranking of supplier countries. The latest Petroleum Production and Analysis Cell (PPAC) data say on a cumulative basis, Iraq - with a share of 20.6 per cent -