{
  "id": 19645647,
  "title": "India Boosts Gulf Oil Imports as Russian Crude Loses Its Price Advantage",
  "url": "https://urgent.news/2026/11/12/india-boosts-gulf-oil-imports-as-russian-crude-loses-its-price",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T11:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/India-Boosts-Gulf-Oil-Imports-as-Russian-Crude-Loses-Its-Price-Advantage.html"
  },
  "original_language": "en",
  "account": "India has increased its crude oil imports from the Persian Gulf over Russia in November, marking a shift for the first time since the Iran conflict escalated and disrupted the supply chain through the Strait of Hormuz. According to Bloomberg, India imported approximately 2.1 million barrels per day (bpd) of crude oil from the Persian Gulf this month, compared to 1.8 million bpd from Russia, as reported by Kpler data on Thursday. This trend underscores the significant recovery of the Strait of Hormuz flows, largely due to ship-to-ship transfers (STS) bringing crude closer to India's shores amid Gulf of Oman congestion and concerns over attacks on tankers near the Strait of Hormuz. Prior to the Iran war, India's average crude oil imports through Hormuz were around 2.8 million bpd. During the early months of the nine-month-long conflict, Gulf crude deliveries to India plummeted to a mere 247,000 bpd in April, when the Strait was effectively closed to most traffic. While Russia remains a crucial crude oil supplier to India, the resurgence of Hormuz flows and the reduced distance to the country have elevated imports from Gulf producers. In the previous month, the waters surrounding the Strait of Hormuz were so congested with STS operations that they extended into India's West Coast. The Gulf of Kutch, opening towards the Arabian Sea facing the Gulf of Oman, has also emerged as another STS point for Gulf oil exporters. Middle Eastern oil exporters are keen to maintain supplies to Asian markets, despite heightened risks for tanker journeys in the Strait of Hormuz. At the end of October, the Indian state-owned refiner Bharat Petroleum Corporation Limited (BPCL) announced plans to reduce its Russian crude oil purchases in November, citing prohibitive freight costs and premiums for Russian crude, which are less attractive compared to alternatives from the Middle East, where prices have declined.",
  "summary": "India has imported higher volumes of crude oil from the Persian Gulf than from Russia so far in November, for the first time since the Iran war broke out and disrupted the normal supply chain through the Strait of Hormuz. So far this month, India is estimated to have imported about 2.1 million barrels per day (bpd) of crude oil from the Persian Gulf, compared to 1.8 million bpd flows from Russia,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}