Red Sea Crisis: India turns to West Asia to replace US oil supply

Syllabus: GS-II

Subject: International Relations

Topic: Global issues

Issue: Red Sea Crisis.

Context: India’s crude oil imports from the US halted due to Red Sea crisis, prompting a shift to West Asian suppliers.

Synopsis:

  • US crude supply to India reduced due to Red Sea disruptions and high freight rates, making Persian Gulf suppliers more favourable.
  • Iraq became a primary source, reaching a high, followed by UAE and Saudi Arabia
  • Russia, the largest supplier to India, experienced a 5.6% increase in imports.
  • India, heavily reliant on oil imports, pivoted towards Russian oil following Western sanctions post-Ukraine conflict.

Take away point:

India is the world’s third-largest consumer of crude oil, relying on imports for over 85% of its needs.
Red sea (Places in News):

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