Middle East oil

Middle East oil is primarily purchased by Asian nations—led by China, India,

Japan, and South Korea—which rely heavily on the region for crude, with exports

also flowing to Europe and the US. Key buyers are diversifying, but reliance on

Saudi Arabia, Iraq, and the UAE remains high. 


Top Buyers of Middle East Oil by Country (2025–2026)

China: The largest importer of Middle East crude, purchasing approximately half

of its total oil imports from the region, including over 80% of Iran's exported

oil.


India: Recently increased reliance on Middle East oil (55% of its crude imports

in early 2026) due to shifting preferences and sanctions. Major suppliers include

Saudi Arabia, Iraq, and Qatar.


Japan: Extremely dependent, sourcing roughly 95% of its oil imports from the Middle East.


South Korea: A major purchaser, frequently among the top buyers of refined

products and crude from Gulf nations.


European Union Countries: Key buyers include Greece and Italy, which often import

from Saudi Arabia and Iraq.


United States: While a top global producer, the U.S. still imports significant

quantities from the Persian Gulf (e.g., Saudi Arabia, Iraq). 


Key Middle East Suppliers

Saudi Arabia: Top exporter, accounting for around 39% of the region's exports.

Iraq: Second largest supplier (approx. 15.6% of regional exports).

UAE: Third largest supplier (approx. 14.5% of regional exports).

Iran: Significant supplier, specifically to China, despite US sanctions. 


Key Trends

Asia Reliance: Almost 50% of China's oil imports come from the Middle East.


Strategic Storage: China uses Middle East oil to fill its strategic reserves,

estimated at 900 million barrels.


Refinery Stakes: Saudi Aramco is aggressively acquiring stakes in Asian

refineries (e.g., in China) to lock in long-term customers.