
The Mangalore Refinery in India. As recently as 2009, Iranian oil accounted for 14 percent of India’s crude imports, making Iran its second-largest supplier.

China likely placed an estimated 430,000 barrels per day (bpd) of crude into strategic and commercial reserves in April, even as its crude imports slumped to the lowest level since July 2022, according to estimates by Reuters columnist Clyde Russell based on …