Iraq’s dominance over Indian crude market will be tested by Iranian resurgence

The resurgence of Iranian crude, propelled by President Biden potentially lifting sanctions, may challenge Iraq’s double-digit growth of crude exports to India. Its market share rose as high as 25% as Iranian crude inflows zeroed out. A refiner said that, since Indian refiners are used to Iranian crude, they will likely be happy to get back to business if the opportunity presents itself.