FPJ News Service mumbai

US exports of crude oil to India in February climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter US, Reuters reported on Thursday.

Top buyers included Indian Oil Corp, Reliance Industries and Bharat Petroleum Corp.  Sanctions on Russian producers and tankers.The US exported about 357,000 barrels per day (bpd) of crude to India, the world’s third-biggest oil importer and consumer, in February, ship tracking data from Kpler showed. That compared with exports of about 221,000 bpd last year.

The jump in exports to India underscores how multiple rounds of sanctions imposed by Washington on ships and entities dealing with oil from Iran and Russia since October are disrupting trade with major importers of their oil.India, last month said its energy purchases from the US could go up to $25 billion in the near future from $15 billion last year.“Indian refiners are trying to diversify their crude supplies, especially light-sweet barrels,” said Rohit Rathod, a senior analyst with ship tracking firm Vortexa.

“Sanctions on Russian vessels that came in recently only pushed Indian buyers to look elsewhere,” he added.About 80 per cent of the crude exported to India was light sweet West Texas Intermediate-Midland crude, according to the data.Top sellers in the US included oil producer Occidental Petroleum, Equinor and Exxon Mobil and trading house Gunvor.