May 2016, Vol. 243, No. 5


Iran Targets India to Gain Crude Export Market Share

Iran’s waterborne crude oil exports reached 53.4mn bbls, or 1.7mn bpd in March 2016, up 140,000 bpd from February 2016, as the country sends more crude to India following the removal of economic sanctions in January 2016. Iran’s export target markets have shifted in 2016 from East Asian to Indian refiners as the country works to regain market share. Before sanctions were imposed against Iran, the country was the second-largest crude supplier to India. Iran’s export by departure month. While India’s gross oil imports from the Middle East and West Africa did not significantly change in March 2016, it has imported more Iranian crude, displacing supplies from other countries. India’s

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