Top 5 Crude Oil Importers in India 2024
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1 month ago
As we all know India's crude oil import landscape is buzzing with activity, much like a bustling marketplace filled with vendors vying for attention. With the country's growing energy needs, understanding who the top players are in this market is crucial. Imagine a vibrant tapestry woven with threads of trade and diplomacy, where each importer plays a unique role in fueling India's ambitions.
So let’s dive into the top 5 crude oil importers in India, backed by the latest stats and data. From the sun-soaked deserts of Saudi Arabia to the vast plains of the United States, each supplier brings not just oil, but also a story of collaboration, competition, and the pursuit of energy security in a rapidly changing world. So grab a cup of chai, sit back, and let’s explore how these key players are shaping India’s energy future!
1. Saudi Arabia
Saudi Arabia continues to hold the crown as India’s largest supplier of crude oil. You know what, it is expected to supply around 25% of India’s total trade crude oil imports in 2024. According to the latest India crude oil import data for 2024, the volume is projected to be approximately 40 million metric tons (MMT).
|
Year |
Volume (MMT) |
% of total imports |
|
2022 |
38 |
24% |
|
2023 |
39 |
25% |
|
2024 |
40 |
25% |
2. Iraq
Iraq is not far behind, maintaining its position as the second-largest supplier. According to the latest data the crude oil shipment data indicates that Iraq is expected to export about 30 MMT of crude oil to India in 2024. This accounts for roughly 20% of India's total imports.
|
Year |
Volume (MMT) |
% of total imports |
|
2022 |
28 |
20% |
|
2023 |
29 |
20% |
|
2024 |
30 |
20% |
3. United States
The United States has established a substantial presence within the Indian marketplace. With the rise of shale oil production, the U.S. is projected to supply about 15 MMT of crude oil in 2024, making up about 10% of total imports. This shift is reflected in the India import data trends.
|
Year |
Volume (MMT) |
% of total imports |
|
2022 |
10 |
7% |
|
2023 |
12 |
8% |
|
2024 |
15 |
10% |
4. UAE
The United Arab Emirates (UAE) remains a key player, contributing around 12 MMT in 2024, which is about 8% of India’s crude oil imports. The crude oil import market data shows a steady increase in UAE's exports to India.
|
Year |
Volume (MMT) |
% of total imports |
|
2022 |
11 |
8% |
|
2023 |
11.5 |
8% |
|
2024 |
12 |
8% |
5. Nigeria
Rounding out the top five, Nigeria is expected to supply around 10 MMT of crude oil in 2024, which constitutes about 6% of India’s total imports. This highlights Nigeria's importance in the Indian import export data.
|
Year |
Volume (MMT) |
% of total imports |
|
2022 |
9 |
6% |
|
2023 |
9.5% |
6% |
|
2024 |
6% |
6% |
Wrapping it up
In conclusion, the India export data 2024 and Indian trade data reveal a dynamic crude oil import market. With Saudi Arabia, Iraq, the U.S., UAE, and Nigeria leading the charge, India is set to meet its energy demands while navigating global supply chains. The crude oil import data for 2024 paints a promising picture of India's energy future, underscoring the importance of these relationships in the global market.
For those keen on tracking these trends, staying updated with a global import export data provider can offer valuable insights into the evolving landscape of crude oil imports in India.
Want to stay informed about the Indian crude oil market in 2024? Exim Trade Data has you covered! Visit https://eximtradedata.com/ for ongoing updates.
