July 31, 2026: Iraqi oil exports to India fell in the first half of 2026, as Indian refineries diversified their crude import sources to minimize the geopolitical risks associated with shipping via the Straits of Hormuz. 

According to officials at Indian refining companies and the Indian Ministry of Petroleum, the goal of this measure is to improve supply security.

The drop in Iraqi supplies to India comes at a time when the global oil market is under increased pressure due to security worries along critical maritime routes. This pressure is causing consumers in Asia to split their purchases among many producing countries.

Iraqi oil remains a vital resource for India due to supply security and the high quality of Basra.

(Source: Iraqi News)