The UAE and Saudi Arabia have leveraged alternative routes, bypassing the Strait of Hormuz, to redirect shipments to India. This move has remarkably boosted crude supplies to India in April.

Despite traditional suppliers dropping out and Russian imports cooling down, Saudi shipments have risen by 23% month-on-month in April, a significant leap from what it was in March.

The UAE stood at a 191% surge, establishing itself as a supplier with a steepest increase.

Rerouting of flows is said to be the reason for the surge.

Suppliers from key Gulf exporters such as Iraq, Kuwait and Qatar dropped to zero in April even as Iraq’s shipments declined 76% before finally collapsing.

However, alternative suppliers such as Brazil and Nigeria made inroads. Imports from Brazil increased by more than double, over 100%, in April. Nigeria rose 77%.

India has resumed purchases from Iran after a gap of seven years.

Such structural shifts in global oil markets are significantly ramping up supplies to countries like India. That said, Russian imports have sharply declined, despite increasing in February during supply disruptions at the peak of the Middle East conflict. – Image credit: freepik – editor@nrifocus.com