International Market Situation – Iran Has No Surplus Oil Available for Global Sales
New Delhi: Iranian crude oil is technically available to Indian refineries, but in highly limited quantities and within a very narrow delivery window. Following a recent waiver by Washington allowing the sale of Iranian oil held in floating storage and in transit, the flow of this supply has shifted significantly, with most of it now being directed toward China.
India has already secured around 60% of the 100 million barrels of oil stored in Russia for delivery during March and April. In contrast, India’s potential share of Iranian crude is expected to be less than 10 million barrels. According to a senior trader, the tight delivery deadline—restricted to just one month, ending on April 19—has created significant challenges for Indian state-run refineries in managing their supply chains.
Within this limited timeframe, identifying reliable sellers, verifying their credibility, and arranging shipping logistics have become particularly difficult tasks.
