Sellers jockey to fill India’s Iran void
Iranian deliveries have dropped significantly despite exemption, but it is not as simple as Saudi Arabia stepping in
Iran's crude deliveries to India have dropped substantially in the last four months, according to data from oil market analytics consultancy OilX. But it is a more opaque picture than Saudi Arabia simply picking up all the slack. India was one of the eight countries that received an exemption from the US Trump administration in early November from having to reduce its imports of Iranian crude to zero. The waiver lasts for an initial six months. India's oil minister Dharmendra Pradhan said that the US decision to let India keep buying oil from Iran was a reassertion that interests of consuming nations cannot be ignored, while Trump said the US "will take care of" the eight countries granted e
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
