India’s imports of Russian crude oil increased in May as refiners expanded purchases to capitalize on competitive pricing and secure feedstock for growing domestic fuel demand. The rise reinforces Russia’s position as India’s leading crude supplier despite ongoing geopolitical tensions and evolving global trade patterns.
According to market data, Indian refiners increased procurement of Russian grades during the month, attracted by favorable discounts compared with other international crude benchmarks. Both state-owned and private refiners continued to source significant volumes from Russia, helping optimize refining margins and manage input costs amid fluctuating energy markets.
The higher intake comes as Indian fuel consumption remains robust, driven by economic activity, transportation demand, and industrial growth. Refiners have been adjusting their crude sourcing strategies to balance cost efficiency, supply security, and operational requirements, with Russian oil remaining an important component of the country’s import mix.
Russia has emerged as a dominant supplier to India since 2022, when discounted cargoes became widely available following Western sanctions and shifts in global crude trade flows. Since then, Indian refiners have steadily increased purchases, reshaping the country’s traditional sourcing patterns that were previously centered on the Middle East.
Industry analysts note that the continued flow of Russian crude has helped India contain energy costs and diversify supply sources. At the same time, refiners have maintained procurement from other major exporters, including countries in the Middle East, to ensure a balanced and flexible supply portfolio.
The increase in May imports highlights the ongoing importance of price competitiveness in India’s crude purchasing decisions. With the country remaining one of the world’s largest oil importers, refiners are expected to continue monitoring market conditions closely while seeking reliable and cost-effective supplies to meet domestic energy needs.