With 13 million bpd of oil trapped by the Strait of Hormuz, India and China turn to Russia

About 13 million barrels per day of oil are caught in the wider Strait of Hormuz crisis, pushing India and China into a scramble for replacement crude. Both are now chasing fewer barrels as disruptions in the waterway and stalled U.S.-Iran peace talks tighten the market. The main target is now Russia. Saudi Arabia is […]