ShafaqNews- Baghdad
India hassharply reduced crude oil imports from Iraq by an estimated 84% following aseries of declines tied to Middle East tensions and constraints in the Straitof Hormuz, data from Kpler showed on Tuesday.
Shipmentsfell to zero in March and April before partially recovering in May, when flowsresumed at only around 41,000 barrels per day (bpd) —a steep drop frompre-disruption levels of 200,000–300,000 bpd.
Indianrefiners have since shifted toward higher purchases from Latin America andAfrica, including Venezuela, Brazil, Angola, and Nigeria.
Thestrategic waterway has remained largely restricted since February 28 after theUS–Israel war on Iran, disrupting energy flows and limiting shipments acrossthe region. Gulf producers, including Iraq —through which roughly 95% of itsoil exports pass via the corridor— have scaled back exports.
Baghdadpreviously secured access to the passage after Iran granted “brotherly Iraq” anexemption from “any restrictions imposed on the Strait of Hormuz,” setting itapart from states Tehran considers hostile.
: Iraq's oil lifeline blocked: Why the crisis runs deeper than Hormuz