India Increases Far East Russian Oil Purchases Amid Middle East Supply Disruptions
Source Summary
India raised purchases of Russia's ESPO crude blend in the first seven months of the year as Middle Eastern deliveries declined following the closure of the Strait of Hormuz. Total ESPO exports from Russia's Far Eastern port of Kozmino rose 6% in January-July compared to the prior year, according to Argus data reported by Russian daily Kommersant. China remained the largest buyer of ESPO crude, though its market share shifted as it reduced spot market purchases during the early months of the Iran war.
Why it matters
The shift reflects how geopolitical disruptions and regional conflicts are redirecting global crude flows away from traditional routes and toward alternative suppliers.
