India Faces Crude Crunch Amid Tightening Russian And West Asian Supplies | Details
India replaced West Asian oil with Russian crude after the Hormuz crisis began. Now Russian supply is shrinking while West Asian barrels remain constrained. Six months into the US-Iran war, Indian refiners are adjusting purchase patterns daily, with spot imports rising above 70%. Russian crude imports hit a record 2.78 million barrels per day in July (56% of total), then slumped to 2.1 million bpd in August (44%). Overall imports fell 6%. Ukrainian drone attacks on Black Sea ports, China’s return to the market and a looming US sanctions bill are tightening Russian flows.
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