Iraq-India oil trade: $29.6B in 2024 powers India’s supply

Shafaq News/ Iraq’s oil exports to
India exceeded $29 billion in 2024, cementing Baghdad’s position as one of New
Delhi’s top energy suppliers, according to trade data.

Iraq exported 52.28M tons of oil to
India last year, valued at $29.58B, reflecting a 15% annual growth over the
past four years. The shipments accounted for roughly 20% of India’s total oil
imports from global markets.

Crude oil formed the bulk of the
trade, with $28.6B in export value. Refined petroleum products and derivatives
added another $1.77B, while petroleum coke, bitumen, and liquefied petroleum
gases made up $223.5M.