Will China and India Ignore Iranian Crude?

[Tom Kirkman + 8,860]

With the media frenzy over the impending next rounds of the U.S. upping sanctions against Iranian oil, it might be good to take note that a strengthening U.S. dollar and rising prices have already begun reducing global demand growth.  I had warned about this a few months ago:

Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?

 

So now the Middle East is starting to get nervous about a drop in demand from China.

So my question is - since I expect a decrease in global demand for oil due to a strengthening U.S. dollar, will China and India mostly choose to ignore Iranian crude, reduce their demand for oil, and carry on without a crazy oil price spike?

Anyway, here is some news:

China's slowing demand for oil is a serious concern for the Middle East

The risk of declining Chinese demand for oil is worrying Middle East officials more than Iran's supply curbs as a result of U.S. sanctions.

Bahrain and Oman's oil and gas ministers both told CNBC Monday that China's demand for oil could decline on the back of its trade dispute with the U.S. that has seen tariffs imposed on a wide range of Chinese imports.