New Delhi: India’s imports of Russian crude oil have seen a decline, whilst shipments from the US proceed to climb. In line with Reuters, Russian crude deliveries to India dropped 8.4% between April and September, following Washington’s choice to impose a 25% tariff on oil sourced from Moscow.
The autumn displays a tightening international market and waning reductions from Russian suppliers. Trade sources and delivery information present that Indian refiners are actually sourcing extra oil from the Center East and the US, realigning commerce flows that after leaned closely towards Russia.
Stress from Washington has additionally performed a job. White Home Commerce Advisor Peter Navarro earlier mentioned that India’s crude purchases had been successfully serving to to “fund Russia’s struggle in Ukraine”.
Transport information reveals that throughout the first half of the fiscal 12 months, one main Indian refinery imported 1.75 million barrels of Russian crude per day. In September, imports remained steady at 1.6 million barrels per day, marking a 14.2% year-on-year decline from September 2024.
Refineries And Realignments
Personal gamers reminiscent of Reliance Industries Restricted and Nayara Vitality ramped up Russian oil purchases in September. In distinction, state-owned refiners scaled again their consumption.
US commerce negotiators argue that decreasing Russian imports is important for reducing tariffs and finalising pending commerce agreements with India.
Between April and September, India’s crude imports from the US rose 6.8%, reaching about 213,000 barrels per day. In complete, India imported 4.88 million barrels per day in September, 1% decrease than August, however 3.5% greater than the identical month in 2024.
Shifting Shares
Russia’s share in India’s complete oil imports dropped from 40% to round 36% throughout the six-month interval. America noticed an increase, whereas oil sourced from the Center East elevated to 45%, up from 42%.
Collectively, Group of the Petroleum Exporting Nations (OPEC) nations (a coalition of main oil-producing nations reminiscent of Saudi Arabia, Iraq, Iran, Kuwait, the United Arab Emirates, Nigeria and Venezuela) expanded their share from 45% to 49%.
The information paints a transparent image: India is step by step diversifying its oil portfolio amid international uncertainty, financial leverage and strategic diplomacy. America, in flip, seems to be rising as a beneficiary, gaining affect in a market as soon as dominated by Moscow.