Framing Analysis
India's crude imports from the Middle East fell 27% to 1.55 million barrels per day in April-June while imports from the Commonwealth of Independent States rose 8.3% to 2.26 million barrels per day, according to Times of India data. Russian crude reached 2.64 million barrels per day in the most recent month, accounting for roughly half of India's total imports of 5.24 million barrels per day. The data also note prior constraints on Strait of Hormuz transit and increased purchases from Russia and Latin America.