India imported 4.93 million barrels per day (bpd) of crude oil in June, the best quantity for the month on document, regardless of geopolitical tensions in West Asia, in line with information and evaluation from power intelligence agency Kpler.
Russian crude imports rose to round 2.6 million bpd in the course of the month, reinforcing Russia’s place as India’s largest oil provider, Kpler analyst Sumit Ritolia mentioned.
Russian provides made up for greater than half of the nation’s total imports in June, up from 36.5 per cent in Could when it had imported 2.13 million bpd from Moscow, in line with Kpler information.
Russia has been India’s largest crude provider since 2022-23, as Indian refiners elevated purchases of discounted Russian oil after many European patrons diminished imports following Moscow’s invasion of Ukraine.
The document import volumes underscore India’s skill to take care of crude provides via diversified sourcing whilst battle in West Asia raised issues over international power shipments and briefly pushed up oil costs.
“India’s crude imports have quietly demonstrated outstanding resilience over the previous 100 days. Over the previous 100 days, India has arguably been one of many best-positioned main importers, efficiently sustaining crude inflows via proactive diversification and procurement methods,” he mentioned.
Indian refiners have largely secured crude provides via the primary half of August, as cargoes are sometimes booked one to 2 months upfront, Ritolia mentioned. That leaves refiners with restricted fast want for added purchases even when geopolitical dangers persist.
“India imported 4.93 million bpd of crude in June, the best June quantity on document, regardless of heightened geopolitical tensions in West Asia. On the identical time, Russian crude imports climbed to round 2.6 million bpd, reaffirming Russia’s place as India’s largest and most essential crude provider,” he mentioned.
The power to maintain document import ranges whereas rising purchases from Russia underscores the success of Indian refiners in diversifying provide and managing refinery economics, he added.
Wanting forward, international crude provides are anticipated to stay enough, supported by larger exports from Africa, Russia and Venezuela, elevated output by OPEC+ producers and the continued motion of oil via the Strait of Hormuz, he mentioned. The latest decline in worldwide crude costs additionally suggests the market is turning into much less involved about near-term provide disruptions.
Ritolia mentioned he doesn’t anticipate a significant resumption of Iranian crude imports into India within the close to time period.
Whereas one or two opportunistic cargoes may arrive in July or August, refiners are already largely coated for feedstock necessities via early August. Any sustained return of Iranian crude would depend upon the regulatory setting after the present sanctions waiver expires on August 21, he mentioned.
India, the world’s third-largest importer and client of crude oil, meets greater than 88 per cent of its oil requirement via imports and has sharply elevated purchases of discounted Russian crude since 2022.
“Wanting forward, India’s crude import place additionally seems comfy. Refiners sometimes procure crude cargoes one to 2 months upfront, implying that feedstock necessities via August are largely secured. Past that, the worldwide provide outlook stays supportive,” Ritolia mentioned.
Rising exports from Africa, Russia, and Venezuela, along with larger OPEC+ manufacturing and continued crude flows via the Strait of Hormuz, ought to present ample sourcing choices.
The latest decline in crude costs additionally means that the market is more and more comfy with provide availability (as for now a minimum of) regardless of lingering geopolitical dangers, he mentioned.
“Total, India’s crude import portfolio stays properly diversified, properly balanced, and adequately coated. Except there’s a materials disruption to international bodily provides, Indian refiners are properly positioned to satisfy crude necessities whereas persevering with to optimise procurement economics,” he added.
Revealed on July 1, 2026
