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India’s Jan Crude Imports From Iraq the Highest Since April 2022

OIL

India’s imports of Iraqi crude reached the highest level observed since April 2022 at 1.15mbd in January according to Vortexa.

  • The imports are an almost 300kb/d increase from the 2023 average.
  • Flows have been boosted by India’s proximity to Iraq and with flows avoiding the Red Sea disruptions.
  • Imports from Iraq have also helped replace lost Russian crude supplies with no Sokol imports in January due to sanctioned tanker disputes and payment issues.
  • However, the NS Commander vessel carrying Sokol crude is headed to India according to a report from Reuters this week citing Kpler data. Indian flows are 119kb/d this month after no flows arrived in Dec-Jan according to Bloomberg.
Energy BulletsCommodities
Energy BulletsCommodities

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