- Gulf crude imports to India rose to 1.52 mb/d in September from 1.03 mb/d in June
- Producers use ship-to-ship transfers near Sohar and Fujairah to bypass Strait of Hormuz risks
- Iraq, UAE, and Kuwait led the supply growth with increased shipments in September
Crude oil supplies from the Gulf to India are showing signs of recovery after a sharp decline in recent months, with producers finding alternative ways to keep shipments moving despite risks around the Strait of Hormuz.
Gulf crude imports into India have risen to around 1.52 million barrels per day (mb/d) so far this month, compared with 1.03 mb/d in June, according to Kpler data shared with NDTV Profit. June's level was the lowest recorded in Kpler's data since 2017.
The rebound indicates that Gulf producers and buyers are finding ways to maintain crude flows despite disruption risks around the key shipping route. Sellers are also absorbing some of the risks associated with transporting barrels through the region.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Also Read | Oil Prices Today: Brent Crude Pause Near $104 As Saudi Supply Recovers, Iran Diplomacy Takes Focus
One method being used involves ship-to-ship transfers near Sohar and Fujairah, allowing crude to be moved through alternative logistics arrangements.
Supply growth in September has been led by Iraq, the UAE and Kuwait. Iraq shipped around 7.8 million barrels to India on six tankers during the first three weeks of September, compared with 5 million barrels on five tankers in August.
UAE crude supplies have also remained resilient, with around 9 million barrels arriving in India so far in September.
Meanwhile, Kuwait has returned to India's crude import mix, supplying around 5 million barrels during September so far.
Also Read | Russian Barrels Go Dark In India's Import Data As Unattributed Oil Flows Surge
The increase in Gulf supplies comes after India's imports from the region fell sharply earlier in the year, underscoring efforts by producers and traders to maintain crude availability despite heightened shipping risks.
Analysts cited in the data said the evolving shipping arrangements and willingness of sellers to absorb transportation risks are helping Gulf crude continue reaching the Indian market.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
