Indian Oil may switch away from American oil if Iran nuclear deal proceeds — Panjiva
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Indian Oil may switch away from American oil if Iran nuclear deal proceeds

Energy - Conventional 432 Energy - Crude Oil 295 India 468 Iran 33 Iraq 6 Nigeria 2 Sanctions 135 U.S. 5260

An agreement to restart the JCPOA nuclear deal with Iran may reopen the potential for the renewed Iranian oil sales. Buyers in India and Europe have already reportedly started preparations. Iran’s plans to export from the Jask terminal on the Gulf of Oman coast will also make it one of the few regional producers to be hedged against conflict in the Straits of Hormuz. Indian importers largely ended their purchases of Iranian crude in May 2019, with Iranian oil accounting for a peak of 18.8% of imports in the three months to July 31, 2018. Instead most switched to U.S. oil which accounted ...

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