Russia loses its oil market in India. Delhi is again buying more from the Middle East

India has increased its oil imports from the Persian Gulf, surpassing those from Russia for the first time since February. In November, daily imports from the Middle East reached 2.1 million barrels, compared to 1.8 million barrels from Russia. The shift is attributed to high transportation costs and delays in Russian oil deliveries, making Middle Eastern suppliers more competitive. Saudi Arabia and other Gulf nations have ramped up production, returning to pre-war levels. Meanwhile, Russia's oil exports have declined due to ongoing infrastructure attacks and logistical challenges in the Arctic region.