Indian refiners are increasingly choosing Gulf oil over Russian oil as high transportation costs make long-distance routes uneconomic, Bloomberg reports. In particular, buying Iraqi oil is becoming more profitable for New Delhi than Russian oil, traders told the agency.

Indian refiners are increasingly choosing Gulf oil over Russian oil as high transportation costs make long-distance routes uneconomic, Bloomberg reports. In particular, buying Iraqi oil is becoming more profitable for New Delhi than Russian oil, traders told the agency.