BRIC House

The pressure to diversify crude oil sources continues to mount for purchasers of Iranian crude oil. Today, buyers not only risk economic marginalization by the United States and Europe, but also physical supply disruptions as rising tensions call into question the viability of supplies. To that end, India is forging relationships with other producers of heavy crude oil. Exporters such as Mexico and Brazil provide politically palatable alternative sources. While these two countries already send barrels to India, incremental exports can be expected as India is weaned off of Iranian supplies. Download here