Saudi to reclaim spot as India's top oil supplier after Reliance deal

Reliance Industries' deal with Aramco to buy 500,000 barrels per day of crude oil on a long-term basis will allow Saudi Arabia to reclaim spot as India's top oil supplier. Saudi lost the spot to Iraq during the last two financial years. The deal is part of Aramco's plan to buy a 20% stake in Reliance's refining and petrochemical business.