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The Economic Times
The Economic Times
Business

India turns back to Gulf oil as Russian crude loses its price edge

India sharply increased crude oil imports from the Middle East in September, restoring supplies to pre-war levels, while purchases of Russian oil fell as competition from China intensified and price discounts narrowed, ship-tracking data showed.

Middle Eastern crude accounted for about 54% of India's total oil imports in September, up from 32% in August, as shipments through the Strait of Hormuz picked up following supply disruptions caused by the Iran war.

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