9th February, 2012
India figured as Iran’s number one crude oil customer in January. That may be difficult to believe but it is indeed a statement of fact. Actually, India stepped up its imports of Iranian oil by 37.5 percent, which helped Iran offset a 50 percent cut in Chinese purchases resulting from a dispute in pricing. China now imports around 250000 barrels a day as against India’s 550000 barrels a day, according to a Wall Street Journal report.
