Oil imports from the Persian Gulf countries to India exceeded imports from Russia for the first time since the start of the war in Iran. Bloomberg. India's crude oil shipments through the Strait of Hormuz rose to 2.1 million bpd this month, surpassing Russian imports of 1.8 million bpd, according to Kepler. The largest producers from the Persian Gulf countries are currently supplying oil in volumes close to pre-war levels. Combined exports from Saudi Arabia, the United Arab Emirates, Iraq and Kuwait rose to 15.53 million barrels per day in October, roughly the same as at the start of the year. Meanwhile, Russian exports have been hurt by Ukraine's ongoing attacks. In the four weeks to Nov. 8, shipments abroad fell 40,000 points per second to 3.63 million, according to tanker shipping data compiled by Bloomberg. Economic factors also contribute to the decline in Russia's share. Middle Eastern producers offer competitive prices and ship oil through the Strait of Hormuz, then transfer the cargo to customer tankers outside the waterway. Russian oil, on the contrary, became more expensive due to transport costs and longer flights.