India shifts crude sourcing amid Israeli US conflict with Iran
India is shaking up where it gets its oil, thanks to shipping troubles in the Middle East caused by the Israeli-US conflict with Iran.
Recently, Indian refiners have turned to countries like Venezuela, Brazil, Angola, and Nigeria for crude (while still buying from Russia) to keep supplies steady.
April imports steady at 4.57MB/d
India's overall oil imports held steady at 4.57 million barrels a day in April, though that's down from last year.
Russian imports dipped due to refinery maintenance but are expected to bounce back soon.
For the first time in seven years, Iranian oil returned under a US waiver, while shipments from Iraq stopped as exports were halted.
Russia remains India's top supplier, but the United Arab Emirates and Saudi Arabia are close behind—helping balance things out as global tensions continue.