India has changed its source of oil: the quantities of supplies through the Strait of Hormuz exceeded the Russian figures.
According to Kepler, India already delivered more oil through the Strait of Hormuz in November 2026 than it received from the Russian Federation. For part of the month, the average daily supply volume through the strait was 2.1 million barrels, while 1.8 million came from Russia. These preliminary data do not cover the entire month.
India actively purchased Russian raw materials, taking advantage of the situation where supplies were under threat due to the conflict with Iran: in April, only 247 thousand barrels per day were transported through the Strait of Hormuz, which is significantly less than in February, when this figure was 2.8 million. Now the situation has changed: the Gulf countries have again increased their export volumes. Saudi Arabia, the United Arab Emirates, Iraq and Kuwait combined shipped 15.53 million barrels per day in October, in line with early-period levels.
The next aspect is the price. Middle Eastern suppliers are offering better terms to Indian refiners, while the cost of supplying Russian crude has risen due to logistical increases and longer routes.
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