India Diversifies Oil Imports Amid Hormuz Disruptions
Indian refiners increased imports from Brazil, Venezuela, and Africa in April and May as conflict restricted shipping through the Strait of Hormuz. While Russia remains the top supplier, India utilized pipelines from the UAE and Saudi Arabia to bypass regional waterway blockages.
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India is pivoting its crude oil procurement toward Latin America and Africa to bypass shipping disruptions caused by the Israeli-U.S. war on Iran. This shift follows the outbreak of conflict in late February. This diversification is critical for India's energy security as Middle Eastern supply routes tighten.
