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FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo(REUTERS)

OPEC oil has advantage over US shale during pandemic recovery

Reuters |
PUBLISHED ON MAR 03, 2021 12:06 PM IST
  • Prior to the pandemic-induced downturn, OPEC countries led by Saudi Arabia restrained their production. Shale drillers took advantage, boosting US output to a record 13 million barrels a day.
The US sanctions will disrupt supplies from Iran, which accounted for 10% of India’s energy imports in 2018-19, but the officials said relying on US shale oil will be more expensive and require changes in the configuration of refineries currently set up to process Iranian and other crude.
The US sanctions will disrupt supplies from Iran, which accounted for 10% of India’s energy imports in 2018-19, but the officials said relying on US shale oil will be more expensive and require changes in the configuration of refineries currently set up to process Iranian and other crude.

India could cut US shale import to offset Iran loss

Hindustan Times, New Delhi | By Rajeev Jayaswal and Rezaul H Laskar
UPDATED ON MAY 04, 2019 09:13 AM IST
The officials, who didn’t want to be named, said that once the US sanctions on Iranian oil kicked in, India’s future purchases from alternative energy suppliers will be finalised keeping in mind the country’s energy and commercial security.
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