Iraq to boost oil exports to India

Shafaq News – Baghdad

Iraq will raise oil exports to India in December as trade flows in Asia shift after Saudi shipments to China declined for a second straight month, sources told Shafaq News on Wednesday.

India, the world’s third-largest oil consumer, relies on imports for more than 85% of its crude needs, sourcing supplies from over 30 countries.

According to the sources, Indian refineries plan to boost purchases of Iraqi, Saudi, and Kuwaiti crude to offset reduced Russian supplies as part of efforts to secure the country’s energy needs before the end of the year.

Iraqi crude is expected to further strengthen its position in the Indian market, benefiting from flexible marketing strategies and competitive pricing compared with other Middle Eastern supplies.

The development comes amid a slowdown in China’s crude demand, with some Chinese refineries undertaking seasonal maintenance while independent plants await their 2026 import quotas. This has pushed Saudi oil exports down to around 36 million barrels in December, the lowest level since April.