India Boosts U.S. Oil Imports To Offset Dwindling Iran Supply

India more than quadrupled its imports of U.S. crude oil between November last year and May this year as the U.S. sanctions on Iran significantly reduced Iranian crude purchases at refiners in India, which was Iran’s second-largest oil customer until last month. According to tanker arrival data that Reuters has obtained from industry and shipping sources, the growth in U.S. oil supplies to India was significantly higher than the increase of Indian purchases of oil from its traditional Middle Eastern sources of supply. Between November 2018…