Saudi shipments to India 464,000 bpd as Russia remains top
Business
India's oil game is shifting again: Saudi Arabia is making a comeback after a dip, with shipments expected to jump to 464,000 barrels a day in July.
That bumps its share up to 10%, though it's still not back to its earlier peak of nearly 15%.
Meanwhile, Russia remains India's top supplier by a mile, even as its shipments drop from last month.
India imports fall amid Hormuz disruptions
India's total crude imports are set to fall this July, with Venezuelan oil on the rise and US supplies shrinking further.
Plus, ongoing tensions between the US and Iran have caused major disruptions in the Strait of Hormuz, leaving imports from Iraq, Kuwait, and Qatar almost at zero, so India's usual supply routes are definitely feeling the heat.