BAKU, Azerbaijan, May 25. Amid disruptions to oil supplies caused by restrictions on shipping through the strategic Strait of Hormuz, Indian refiners have shifted their crude import strategy, turning to Latin American and African sources.
TurkicWorld reports according to trade data, before the disruption caused by the ongoing Israeli‑U.S. war on Iran, India imported most of its crude oil from nearby Middle Eastern countries. However, in April and May, refiners increased purchases from Venezuela, Brazil, Angola, and Nigeria to compensate for the shortfall in supplies. They also continued to buy Russian oil despite reductions in some shipments.
This strategic shift comes as exports from some Gulf producers were halted and traditional routes through the Strait of Hormuz were constrained. India’s overall oil imports in April remained steady but lower than a year earlier, while imports from the United Arab Emirates and Saudi Arabia continued via pipelines that bypass the strait.
