India Oil Imports

Oil set for biggest weekly drop; may bring relief for India's oil bill

Brent crude fell 16 per cent from its October 30 peak amid hopes of easing US-Iran tensions, potentially reducing India's import costs and losses at state-run oil firms

Record oil imports reflect strong refinery runs, flexible Russian buying

India's crude oil imports surged to a record high of about 5.6 million barrels per day in October, with refiners stepping up purchases from the Middle East and Russia despite ongoing geopolitical tensions, according to data from energy intelligence firm Kpler. Middle Eastern supplies accounted for about 2.3 million barrels per day, and Russian crude flows remained strong at around 2 million bpd, Kpler lead analyst Nikhil Dubey said in a post. Higher ship-to-ship transfers helped move more crude through the Strait of Hormuz, supporting a recovery in Gulf supplies during September and October and giving Indian refiners greater flexibility in sourcing. Russian shipments could moderate in November and December as attacks in the Black Sea push up freight rates, making those barrels less competitive on a landed-cost basis. At the same time, Gulf suppliers are offering competitive delivered prices to regain market share in India, Dubey said. However, any renewed disruption to flows throug

India's oil imports, external finance remain key challenges: RBI Dy Guv

At the Business Standard BFSI Insight Summit 2026, RBI Deputy Governor Poonam Gupta said India's dependence on imported oil remains a challenge, despite the economy's resilience to global shocks

No pressure from US to reduce Russian oil imports, says Hardeep Puri

India's imports of West Asian crude oil surged in September, returning to pre-war levels, while its ‌refiners cut back purchases ​of Russian oil amid ‌stiff competition from China

Indian Oil to trim West Asian oil imports under annual deals amid Iran war

Indian refiners traditionally relied on ‌the West Asia for more than half of their annual crude supplies, particularly heavier, high-sulphur grades, because of the region's proximity

US oil, gas supplies to India fall 43% as West Asia imports rebound

Refiners say high freight costs, longer voyages and limited supplies of medium sour crude make US barrels less attractive than West Asian and Russian alternatives

Russia to supply diesel to US, global markets: What it means for India

US President Donald Trump said Russia had agreed to immediately supply more than 300,000 tonnes of diesel to the US and global markets after a discussion with Russian President Vladimir Putin

Reliance drives India's Venezuela oil imports to seven-year high in Oct

Venezuelan crude deliveries to India are expected to more than double to about 465,000 barrels a day this month, from 196,000 in September, according to Kpler estimate

Indian oil refiners change tactics, hire tankers to sail through Hormuz

Refiners are shifting from relying on Gulf producers and traders to transport crude through Hormuz, seeking to reduce the premium paid for cost-and-freight shipments

India's crude import bill rises 48% to $74.8 bn in Apr-Aug amid high costs

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

India's Russian oil imports: From war-era discounts to Trump-era shifts

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

India faces crude squeeze as Russian, West Asian supplies tighten

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

Indian refiners widen oil search as Ukrainian attacks hurt Russian flows

Given the pressure on Moscow's crude exports, processors have been seeking alternative barrels from regions including West Africa and even the Americas

Trump's Operation Economic Outcast: How could Iran sanctions impact India?

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

Venezuelan crude turns costly for India as discounts shrink, freight surges

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

India's US crude imports head for lowest level since Dec 2024: Here's why

India's US crude imports may fall to around 75,000 bpd in August, near 70,000 bpd in December 2024; imports had peaked at about 565,000 bpd in October 2025

US Senate Russia sanctions vote threatens Indian crude supplies: Kpler

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

India's July edible oil imports hit 10-month peak on higher palm oil buying

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

Govt to fund offshore oil and gas exploration to cut import dependence

India is embarking on what could be one of the world's first large-scale programmes to fund high-risk offshore oil and gas exploration directly from the national budget, wagering that the country's largely untapped deepwater reserves can help curb its growing dependence on imported crude and gas. The Union Cabinet last week approved the Rs 84,084-crore Samudra Manthan National Offshore Exploration Scheme, under which the government will fund half of the the cost of drilling a deepsea and ultra-deep water exploration well or Rs 650 crore, whichever is lower, directly from the budget, officials said. "This perhaps is the first time that any government in the world is funding risk exploration from the budget," an official said, adding that in all, 60 deepwater and ultra-deepwater exploration wells over the next five years will be funded from the budget. Besides underwriting part of the cost of drilling exploration wells, the government will part-fund common infrastructure, including ..

India, China fuelling 'Putin's war machine': US Senator on sanctions bill

The US Senate moved a step closer to passing a bipartisan bill that would allow Trump to impose sanctions on countries, including India and China, that continue to buy Russian oil.