India Turns Back to Russian Oil Amid Middle Eastern Disruptions

India's crude oil imports have taken an unexpected turn in July, with Russia supplying over half of the country's needs.

This represents a sharp reversal from earlier in the year when Indian refiners reduced their purchases from Moscow due to pressure from Washington.

The shift back towards Russian barrels is attributed to disruptions in the Middle East caused by the conflict involving Iran and restrictions on shipping through the Strait of Hormuz.

Russia's share of India's crude imports averaged 50.83% in July, with shipments amounting to a record 2.47 million barrels per day, a 62.4% increase from the same period last year but 4.8% below June's record volume.