Big energy shift: India is now buying more oil from the Persian Gulf than from Russia, a first since the Iran war began.
In November 2026, oil shipments through the Strait of Hormuz reached 2.1 million barrels a day, topping Russian imports at 1.8 million barrels a day.
This turnaround comes after U.S.-Iran tensions had disrupted supplies, but flow through Hormuz is finally back on track.
Gulf oil rebound draws Indian buyers
Gulf suppliers like Saudi Arabia and the United Arab Emirates have bounced back to nearly prewar export levels, making their oil both affordable and easy to get for Indian refiners.
Meanwhile, Russian exports have dipped due to ongoing conflict in Ukraine.
With competitive prices and smoother logistics from Middle Eastern partners, Indian companies are leaning back toward their old favorites, showing just how much global politics can shake up where our energy comes from.