Oil Imports

India spent $24.4 billion more on crude in April-August despite a 0.4% fall in import volumes as prices rose in international markets amid supply concerns due to the West Asia conflict

The legislation gives President Donald Trump discretion to impose tariffs of up to 100 per cent on major buyers of Russian energy, including India, but does not trigger them automatically

US lawmakers' push to name India in a Russia sanctions bill puts its Russian oil purchases back in focus. Here's how the trade has changed since Moscow's invasion of Ukraine

US oil continues to backstop the supply gaps left by the war

Rising crude prices are squeezing fuel marketing margins and could widen India's oil import bill, while attacks in West Asia raise concerns over supplies through the Strait of Hormuz

Russian crude oil supplies to India, which set records in June and July at nearly 55 per cent of the country's total imports and bailed out Indian refiners, are under threat while West Asian supplies

Donald Trump's Operation Economic Outcast could hit India through higher oil prices, trade disruptions, payment hurdles and possible US action over New Delhi's purchases of Russian energy

Crude import volumes rose 13 per cent to 21.4 million tonnes in July, while the Indian basket price averaged $82.04 a barrel amid supply disruptions in West Asia

Delivered cost of Venezuela's Merey grade surges to $95 bbl, while Russian grade has flipped from a discount to a premium over Dated Brent

Refiners raised palm oil and soyoil purchases ahead of the festival season, with total imports reaching their highest level in 10 months, industry data showed

A US Senate vote to advance tougher sanctions on Russia raises the risk of disruption to Russian crude supplies but is unlikely to immediately alter oil flows to India and China, according to Kpler analyst Sumit Ritolia. The US Senate on Friday passed a bipartisan Russia sanctions bill that would give President Donald Trump authority to impose tariffs of up to 100 per cent on imports from countries that are among the world's largest buyers of Russian oil and gas. The Lindsey O. Graham Sanctioning Russia Act of 2026 targets the five biggest purchasers of Russian energy and is aimed at cutting Moscow's revenues from oil and gas sales. The measure still needs to clear the US House of Representatives and faces further legislative and administrative steps before it could take effect. According to Ritolia, the measures still face further legislative and administrative hurdles, while their impact will depend largely on how aggressively the US administration implements them, including wheth

Palm oil imports jumped 50% from a month ago to 733,000 metric tons in July, the highest in five months, dealers' average estimates showed

Delays in sunflower oil shipments from Russia and Ukraine push the world's largest buyer towards palm, soy and South American supplies amid weak domestic crops

Red Sea traffic ‌has been disrupted off the ​coast of Yemen ​since last week by the Tehran-aligned Houthis, who want to ​blockade Saudi exports

FM Nirmala Sitharaman says the government has adequate fiscal buffers to tackle risks from the West Asia conflict and sees no need to revise Budget estimates

Quiet diplomacy could help India navigate US tariff threats over Russian oil purchases while managing energy security risks amid escalating West Asia tensions

A closure of the Bab el-Mandeb Strait could disrupt Saudi crude shipments, forcing India to rely more on alternative suppliers and increasing risks to LPG supplies

India's imports of Russian crude oil surged to a record high in June, rising 34 per cent from the previous month despite a decline in Russia's overall oil export revenues, according to a report by the Centre for Research on Energy and Clean Air (CREA). India bought Russian crude worth EUR 4.5 billion in June, accounting for 83 per cent of its total Russian fossil fuel imports of EUR 5.5 billion, making it the second-largest buyer of Russian hydrocarbons after China, the report said. The sharp increase came as India's overall crude imports rose 5.4 per cent month-on-month, with Russian supplies to key refineries posting steep gains. Deliveries to Reliance Industries' Jamnagar refinery jumped 150 per cent from May, while imports at Indian Oil Corp's Paradip refinery rose 126 per cent. BPCL's Kochi refinery and Nayara Energy's Vadinar refinery recorded increases of 83 per cent and 45 per cent, respectively, CREA said. The surge in Indian purchases helped lift Russia's crude export ...

The companies, however, have little room to buy Iranian oil immediately, having fully contracted shipments required through August after they sought to secure supplies in advance during the war

MRPL has booked the Aframax tanker Jasmin Joy to load crude from Iraq's ‌Basrah oil terminal on July 19-20