For the first time since the start of the war with Iran, India imported more oil from the Persian Gulf than from Russia, writes Bloomberg.
According to the analytics company Kepler, in November the supply of crude oil from the Persian Gulf to India increased to 2.1 million barrels per day. At the same time, Russian oil imports for the same period amounted to 1.8 million barrels per day.
In April, the daily shipment of oil through the Strait of Hormuz to India dropped to 247,000 barrels per day, compared to 2.8 million barrels in February.
Within four weeks, Russian oil exports fell by 40,000 barrels per day to 3.63 million. Middle Eastern producers offer competitive prices and ship oil through the Strait of Hormuz, reloading it onto tankers for buyers outside the Strait. Russian oil has risen in price due to higher transportation costs and longer routes.
Photo: Bloomberg.