India’s imports of crude oil from Gulf countries have returned to levels seen before the regional conflict, while the share of Russian crude in the country’s oil imports has fallen to its lowest level since April.
The shift reflects changes in India’s crude sourcing patterns as refiners adjust purchases in response to global prices, freight costs, supply availability and geopolitical developments.
Gulf producers have regained importance in India’s crude import basket, with refiners increasing purchases from traditional suppliers in the Middle East. The region remains a key source of crude for Indian refiners because of its proximity, established supply infrastructure and availability of different crude grades.
At the same time, Russian crude has accounted for a smaller portion of India’s imports compared with earlier months. Russian oil had become a major component of India’s crude basket following the disruption caused by the Russia-Ukraine conflict, supported by attractive pricing and increased availability.
The latest change highlights the flexibility of Indian refiners in adjusting their sourcing strategies based on commercial and logistical considerations. Changes in shipping costs, sanctions-related risks and regional security conditions can influence the relative attractiveness of crude from different origins.
The Gulf’s stronger position in India’s crude import basket could also benefit Middle Eastern producers as Indian refiners continue to balance supplies between traditional Gulf sources and alternative suppliers.
India, the world’s third-largest oil importer and consumer, is expected to continue diversifying its crude sources while seeking competitive supplies to meet domestic refining and fuel demand.