Iraq maintains its position as The largest oil exporters to India

Baghdad The share of the Organization of Petroleum Exporting Countries (OPEC) in India’s oil imports fell to the lowest level in at least 15 years, while Iraq maintained its position as the largest oil exporter to India.

Industrial data showed that OPEC’s share of India’s oil imports fell in 2021 to its lowest level in more than a decade, despite a four percent recovery in annual crude oil purchases for the world’s third largest oil importer.

Members of the Organization of Petroleum Exporting Countries (OPEC), mostly from the Middle East and Africa, saw their share of India’s import shrink to 70% in 2021, from a peak of 87% in 2008.

According to the data, Iraq remained India’s largest supplier in 2021 since it overtook Saudi Arabia in 2017.

Iraqi supplies to India are expected to increase in 2022 as Hindustan Petroleum Corporation (HPCL) will raise its crude oil imports by 45% to expand its refining capacity.


Source: National Iraqi News Agency