Business
Indian refiners diversify crude sourcing amid tightening supply
India’s total crude oil imports averaged about 5.3 million barrels a day in September, up from August, with Russia remaining the top supplier even as Russian crude imports fell to a five-month low of about 1.75 million barrels a day.
Indian refiners have been diversifying their crude oil sourcing amid tightening Russian supplies.
Competition from China for Russian crude has also been a factor.
Russian imports fell to about 1.75 million barrels a day in September, a five-month low.
Russia still remained India’s top crude supplier for the month.
India’s total crude imports rose to about 5.3 million barrels a day in September.
India’s imports of Russian crude fell to about 1.75 million barrels a day in September, their lowest level since April.
That marks a second consecutive monthly decline from a record 2.8 million barrels a day reached in July.
In March 2026, India had nearly doubled its intake of Russian crude in a single month, to 2.25 million barrels a day.
The United Arab Emirates and Venezuela followed Russia among India’s top crude suppliers in September.
Indian refiners have been diversifying crude supply sources amid tightening Russian supplies and competition from China.
India is one of the world’s largest importers of crude oil, given its limited domestic production relative to demand.
Crude oil import volumes and sourcing patterns are closely watched indicators of India’s energy security strategy.
Global crude oil markets have seen shifting trade patterns in recent years amid geopolitical and sanctions-related pressures.
Refiners typically adjust their crude sourcing mix based on price, availability and logistics considerations.
India’s major state-run and private refiners include Indian Oil Corporation, Reliance Industries and Bharat Petroleum, among others.
Crude oil price movements globally can significantly affect India’s import bill given its heavy reliance on imports.
Sanctions and trade restrictions on some oil-producing nations have periodically reshaped global crude trade flows in recent years.
India’s total crude oil imports averaged about 5.3 million barrels a day in September 2026.
That is up roughly 600,000 barrels a day from August and about 700,000 barrels a day from a year earlier.
Oil tanker at a refinery jetty (representative image), Wikimedia Commons, CC BY-SA 4.0