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The highest since 2019.. An increase in Iraq’s oil exports to India
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Baghdad today - follow-up
Iraq's oil exports to India rose last January to their highest levels since 2019.
According to Reuters, "Indian refiners have turned to nearby suppliers in the Middle East to avoid disruption caused by delays and to compensate for the diversion of Russian Sokol light oil, whose supplies have been damaged by payment problems and strict Western sanctions."
It showed that “India’s oil imports were 5.24 million barrels per day in January, an increase of 17% over December and 3.5% higher than in the same month of the previous year, according to the data.”
She continued, "January imports from Iraq rose to their highest levels since August 2019, raising the share of Middle Eastern oil in India's total imports to 54%, from 48% in December 2023."
The increase in Middle East imports raised OPEC's share of India's imports to about 54% in January, although the average is at its lowest levels on an annual basis.
Source: Reuters
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