Iran Diversifies Crude Oil Procurement from Africa, Beyond Middle East
Iran is expanding its crude oil procurement sources to Africa and beyond the Middle East, following the military conflict with the US and Israel in February. The country is also buying from the US, Central and South America, and Central Asia.
Since the onset of the military conflict between Iran and the United States/Israel in February, the Iranian government has actively worked to diversify its crude oil procurement away from the Middle East. According to reports, Iran is now pursuing procurement from Africa, adding to existing sources in the United States, Central and South America, and Central Asia.
This strategic shift aims to reduce geopolitical supply risks and reflects broader changes in global oil trade patterns. The diversification underscores efforts to secure alternative supply routes amid regional tensions.
Source: First Squawk