India successfully managed its crude oil sourcing despite global trade disruptions and high prices. Import volumes show strong refinery demand and a diverse supplier base. While Russian crude remains important, imports from West Asia increased significantly during September and October as refiners worked to keep supply steady and costs under control.
India has so far successfully managed its crude oil sourcing despite the significant disruptions to global oil trade and elevated prices. The latest import volumes highlight this resilience, reflecting both strong refinery demand and India's ability to secure crude from a diversified pool of suppliers, which has become one of its biggest strengths.
Russian crude continues to play an important role, while imports from the Middle East, Africa and the Americas provide additional flexibility. This diversification has helped India maintain high refinery utilisation rates and ensure adequate crude availability. Notably, while India's oil imports from Russia continue to be high, crude imports from West Asia increased significantly during September and October, reflecting improving regional supply availability and refiners' efforts to diversify their crude sourcing in the face of stated US sanctions.