India's Crude Imports from West Asia Surge Amid Hormuz Risks
India's crude oil imports from West Asia rose sharply in September despite continued risks around the Strait of Hormuz, according to Kpler data. The country imported 2.10 million barrels per day (bpd) from the region, a 74% month-on-month increase from August.
The rise was led by Iraq, Saudi Arabia, and Kuwait, with these countries supplying nearly 2 million bpd of crude to India in September. This accounted for around 37.5% of India's overall crude basket.
Ship-to-ship (STS) transfers have become an important mechanism for moving crude amid the disruption around the Strait of Hormuz. Suppliers are using this method to transfer cargo from one vessel to another in relatively safer waters, allowing them to keep crude moving through the key shipping route.