India Oil Import

Crude at $115 per barrel could raise India's oil import bill by $64 billion

If global crude averages $110-115 per barrel in FY27, India's net oil imports could rise by $56-64 billion annually, worsening the current account deficit and fuelling inflation

US issues temporary licence to allow some Russian oil sales to India

Move comes months after President Donald Trump slapped tariffs on Indian goods in a bid to pressure Prime Minister Narendra Modi's government to abandon energy purchases from Russia

Russian oil cargoes swing back to India as West Asia conflict hits supply

Indian refiners, wary of complicating trade talks with Washington, had pared back their purchases of Russian oil in recent weeks, which had forced Moscow to seek buyers in China

Global equities, bonds sink as West Asia crisis stokes inflation fears

Hormuz blockade, surging oil prices may weigh on Indian markets

India faces oil shock as Iran war intensifies and supply risks grow

US and Israeli strikes that killed Ayatollah Ali Khamenei have deepened open conflict with Iran and rattled West Asia, disrupting sea routes via Strait of Hormuz, fuelling oil price spike

Russian imports set to hit 4-year low amid tariff chaos, refinery shutdown

Four years after Russia's invasion of Ukraine, Western measures to restrict Russian crude oil flows are beginning to have a real impact as the Trump administration steps up pressure on India

Saudi crude imports rise, narrowing Russia's lead in India's oil market

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

US lifts extra 25% tariffs on Indian goods linked to Russian oil buys

The step is part of a wider agreement to ease trade tensions, under which India plans to buy about $500 billion worth of US goods, including energy, aircraft and technology, over the next five years

India's oil bill plunges 8.5% in December amid falling crude prices

The country benefited from lower crude oil prices, driven by an oversupplied global market and subdued demand conditions

India may raise Saudi oil purchases after pulling away from Russian crude

A modest rise in Saudi imports leaves India facing a sizable shortfall as it cuts back on Russian crude

Trump urges European leaders to stop Russian oil imports, cites Ukraine war

In a 'Coalition of the Willing' call, US President Donald Trump urged European leaders to stop buying Russian oil that funds the war in Ukraine and called for stronger security support

Russia invites Indian exports as US tariffs hit trade, defends oil ties

Russia said Indian goods are welcome in its market as the US raises tariffs; a top Russian diplomat defended India's oil imports and called Western sanctions unfair and one-sided

India's Russian oil imports dip in July, skips LatAm supply, data shows

India imported 1.5 million barrels per day of Russian crude in July, down 24.5 per cent from the previous month, the data showed

India recalibrates strategy on US trade deal amid geopolitical tensions

In July, negotiators from India and US had discussed the visit of the American team for sixth round of bilateral trade negotiations during the week starting Aug 25. That visit has now been called off

Trump hits India with 50% tariff: Tharoor slams US, experts warn of GDP hit

After US President Trump announced an extra 25% tariff on Indian goods over Russian oil imports, Congress leader Shashi Tharoor called it a 'double standard', while economists warned of a hit to India

Trump imposes additional 25% tariff on India for purchasing Russian oil

US President Donald Trump has imposed an additional 25% tariff on Indian goods, citing India's continued import of Russian oil, effective August 27

Nayara exports first fuel cargo after EU sanctions, tanker heads to Oman

A second vessel, the Sard, is currently at the western Indian port of Vadinar used by Nayara, set to lift about 43,000 tons of diesel

Why isn't Trump pressuring China as hard: Expert on India tariff threat

The Global Trade Research Initiative (GTRI) stated that China-not India-is the largest purchaser of Russian oil. In 2024, China imported $62.6 billion worth, compared to India's $52.7 billion

India's refiners seek clarity on Russian oil buys after Trump post

On Wednesday, the US President said that he would impose a tariff rate of 25 per cent on India's exports to the US starting on Aug 1

'Cautions against double standards': MEA hits back at Nato chief's warning

Addressing a press conference in the national capital, MEA spokesperson Randhir Jaiswal said, 'We have seen reports on the subject and are closely following the developments'