In response to information from Kpler, a worldwide commodity monitoring agency, India imported 2.08 million barrels per day (bpd) of Russian crude final month, the very best since July 2024.
“Whereas India's world imports of crude oil dropped by 6 per cent in June, Russian volumes noticed an 8 per cent month-on-month rise to their highest ranges since July 2024,” the Centre for Analysis on Power and Clear Air (CREA) stated in a observe. “Greater than half of those imports from Russia have been made by three refineries in India, which additionally export refined merchandise to G7+ nations.”
India will depend on imports for over 85 per cent of its crude oil wants. Whereas the Center East was traditionally the dominant supply, Russia has steadily emerged as the highest provider over the previous three years. After Moscow's invasion of Ukraine in February 2022, Western sanctions pushed Russian producers to supply deep reductions, prompting Indian refiners to shift gears. Russia now accounts for roughly 40 per cent of India's whole crude imports.
In distinction, imports from Iraq — India's second-largest oil provider — fell to 893,000 bpd in June, a drop of 17.2 per cent from the earlier month. Saudi Arabia held regular with 581,000 bpd, whereas shipments from the UAE elevated 6.5 per cent to 490,000 bpd. Iraq made up 18.5 per cent of India's oil imports, adopted by Saudi Arabia at 12.1 per cent and the UAE at 10.2 per cent. The US remained in fifth place with 303,000 bpd and a 6.3 per cent share, in keeping with Kpler information.
CREA's evaluation of Russian exports in June confirmed that China took 47 per cent of Moscow's crude, adopted by India at 38 per cent. The European Union and Turkiye every accounted for six per cent.“In June, India remained the second-largest purchaser of Russian fossil fuels, importing fossil fuels value 4.5 billion euro. Crude oil accounted for 80 per cent (3.6 billion euro) of those imports,” CREA stated.In the meantime, information from S&P International Commodity Insights confirmed India's crude imports from the US surged greater than 50 per cent within the first half of 2025 in comparison with the identical interval final yr, an indication that Indian refiners are as soon as once more warming as much as non-OPEC sources. The rebound additionally displays enhancing ties with the brand new US administration.
India imported 271,000 bpd of US crude between January and June this yr, up from 180,000 bpd in H1 2024. Shipments from Brazil noticed the sharpest rise, rising 80 per cent year-on-year to 73,000 bpd from 41,000 bpd.
Regardless of the rising diversification, Russia remained India's high crude provider within the first half of 2025, delivering 1.67 million bpd, barely increased than the 1.66 million bpd recorded in the identical interval final yr.
With inputs from PTI
