Iran Oil Exports Declining

Iran Oil Exports - Naturally, oil and natural gas are Iran's most important exports along with other exports including chemicals, plastics and fruits. Iran mainly exports to Taiwan, China, Turkey, South Korea and India. Iran's main imports are machinery, cereals, iron and steel, and chemicals.

India and the EU are reducing their imports of Iranian oil starting in 2018.

India is the 3rd largest importer country of petroleum crude oil, after China and the United States of America. India’s imports of crude oil amounted to USD 60869 million in 2016.

The country imports petroleum crude oil the most from the following countries:

1.    Saudi Arabia: 19.9%

2.    Iraq: 16.2%

3.    Iran: 11%

4.    Nigeria: 10.9%

5.    United Arab Emirates: 9.3

6.    Venezuela: 8.3%

7.    Kuwait: 4.5%

8.    Qatar: 2.8%

9.    Malaysia: 2.8%

10. Angola: 2.8%

11. Mexico: 2.4%

12. Brazil: 1.6%

13. Egypt: 1%

Comments

China’s oil imports will probably shift to Iran and could shift to Russia if needed. Other players like Syria could join this group.

Norb Leahy, Dunwoody GA Tea Party Leader