India’s crude oil imports from the Middle East surged to around 2.8 million barrels per day in September, returning to pre-war levels as oil shipments through the Strait of Hormuz increased.
Indian refiners stepped up purchases of Middle Eastern crude as Gulf producers and traders found ways to move larger volumes through the strategically important waterway, including through ship-to-ship transfers in the Gulf of Oman. Middle Eastern supplies accounted for about 54% of India’s total crude imports during September.
The shift also came with a decline in Russian crude purchases. India’s Russian oil imports fell about **14% from August to roughly 1.8 million barrels per day**, as competition from Chinese refiners increased and the price advantage of Russian crude narrowed.
For India, the rebound in Gulf supplies provides greater flexibility for its refiners, particularly because Middle Eastern cargoes can reach Indian refineries through shorter shipping routes. However, continued tensions around the Strait of Hormuz remain a major risk to the country’s energy security and import costs.
The latest figures underline how quickly India’s crude-sourcing pattern can shift in response to prices, shipping risks and geopolitical developments.
The Bharatio Times | BUSINESS & ENERGY
Indian refiners stepped up purchases of Middle Eastern crude as Gulf producers and traders found ways to move larger volumes through the strategically important waterway, including through ship-to-ship transfers in the Gulf of Oman. Middle Eastern supplies accounted for about 54% of India’s total crude imports during September.
The shift also came with a decline in Russian crude purchases. India’s Russian oil imports fell about **14% from August to roughly 1.8 million barrels per day**, as competition from Chinese refiners increased and the price advantage of Russian crude narrowed.
For India, the rebound in Gulf supplies provides greater flexibility for its refiners, particularly because Middle Eastern cargoes can reach Indian refineries through shorter shipping routes. However, continued tensions around the Strait of Hormuz remain a major risk to the country’s energy security and import costs.
The latest figures underline how quickly India’s crude-sourcing pattern can shift in response to prices, shipping risks and geopolitical developments.
The Bharatio Times | BUSINESS & ENERGY