US crude oil exports jump in hope for India as trade treaty deadline nears

Total imports from the US stood at $8.9 billion in April-May 2025, up from $7 billion in the same period a year earlier, Indian customs data showed

India increased imports of all products from the United States by 27 per cent in value terms during the first two months of FY26, driven largely by a 38 per cent surge in crude oil purchases led by state-run Indian Oil Corporation. The spike comes ahead of the 9 July deadline to conclude the first phase of a bilateral trade agreement, according to exclusive shipping and customs data accessed by Business Standard, and conversations with refiners.

 

The rise in imports may help convince the administration of President Donald Trump of India’s intent to expand energy trade with the US—despite the