India imports record Russian crude as Hormuz disruptions curb supplies
India is bringing in more Russian oil than ever this June, with over half of its crude now coming from Russia, breaking all previous records.
This big jump happened because disruptions in the Strait of Hormuz have made West Asian oil harder to get, especially after hardly any oil has been imported from Iraq for almost four months now.
India widens crude sourcing beyond Russia
To keep refineries running smoothly, India hasn't just leaned on Russia's cheaper barrels — it's also started buying more oil from North America and Venezuela.
Even though a US waiver on Russian oil has ended, analysts say India will stick with these deals for now thanks to steady supply and good prices.
If a peace deal between the US and Iran goes through, it might ease Gulf bottlenecks and give India more options down the road, but for now, Russian oil is still king.