Ship tracking data revealed that U.S. crude oil exports to India reached their highest level in two years last month, as refiners sought alternatives to Russian tankers and producers after the U.S. tightened sanctions.

Kpler's ship tracking data showed that the U.S. exported 357,000 barrels of crude per day to India in February. India is the third largest oil consumer and importer in the world. This compares to exports of approximately 221,000 barrels per day (bpd) last year.

The increase in oil exports to India highlights how Washington's multiple rounds of sanctions on vessels and entities that deal with oil from Iran or Russia have disrupted trade with the major buyers of their oil since October.

India's energy purchases from the U.S. may increase to $25 billion by the end of the year from $15 billion.

Rohit Rathod is a senior analyst at ship tracking company Vortexa. He said that Indian refiners were trying to diversify crude supplies.

"Sanctions against Russian vessels which came into effect recently only pushed Indian customers to look elsewhere," said he.

According to data, 80% of crude oil exported to India is light sweet West Texas Intermediate-Midland.

According to data, top buyers in the U.S. were Indian Oil Corp., Reliance industries, and Bharat Petroleum Corp. Top sellers included oil producers Occidental Petroleum and Equinor, as well as majors Exxon Mobil, and trading house Gunvor.

Companies did not respond immediately to requests for comment or declined to do so.

In February, the U.S. exported crude oil to South Korea at a record level of 656,000 barrels per day (bpd), as China's 10% tariff on U.S. petroleum rerouted flow.

Exports from the United States to China have dropped to a low of 76,000 barrels a day, the lowest in five years. Reporting by Arathy S. Somasekhar, Houston; Editing and proofreading by Liz Hampton & Marguerita Choy

(source: Reuters)