Iran’s crude oil exports to India in March 2016 surges from 290 to 505 thousand barrels per day turning the South Asian country into Iran’s second largest oil customer.
During sanction years, India purchased about 20 per cent of Iran’s oil exports equal to an average of 200 thousand barrels per day, Mehr reports.
Following the implementation of the Joint Comprehensive Plan of Action (JCPOA), India increased its oil imports from Iran as Indian refineries have made new oil purchase proposals.
The surge in oil exports marks a significant achievement for the Iranian government in development of activities in regional markets after the removal of sanctions.
