India Turns to Iraq for More Oil Supplies

India is expected to increase its crude oil imports from Iraq and other Middle Eastern suppliers in the coming months. According to Gurmeet Singh, Director General of the Federation of Indian Petroleum Industry (FIPI), “India’s crude oil imports from Middle Eastern suppliers, including Iraq and Saudi Arabia, are expected to rise in the coming months […] It is also expected that imports from the US could also go up.”

For years, Iraq has been one of India’s top oil suppliers, providing a significant portion of the crude needed to meet the country’s growing energy demands. While other countries emerged as competitors, global uncertainties have meant that Indian refiners are increasingly turning to traditional suppliers like Iraq to secure long-term energy stability.

The expected rise in Iraqi oil imports reflects India’s broader strategy of diversifying its crude supply and reducing dependence on any single country. This approach ensures flexibility in response to geopolitical disruptions and market fluctuations. Additionally, higher imports from Iraq could strengthen economic ties between the two nations, fostering deeper energy cooperation.

With India’s energy demand continuing to grow, the country is likely to maintain strong trade relations with Iraq and other producers in the region. At the same time, increasing US imports will further contribute to India’s energy security, ensuring a stable and diversified oil supply.

Source: S&P Global