India’s oil imports from Iran declined by 57% year-on-year (YOY) in April, Zawya reported.
Based on the data, India has shipped around 277,600 barrels per day (b/d) in April, dropping by 31.5% from March.
India was one of the eight countries given a six-month waiver to import from Iran despite the US sanctions. The country was allowed to buy around 300,000 b/d of oil from November 2018 to April 2019.
On the other hand, Indian refineries have postponed their May orders of Iranian oil, as they await the US decision on extending the waiver from sanctions imposed on Iran.