Our Bureau
New Delhi
Amidst the rising conflicts between Israel and Iran it was expected that there would be a rise in other imports in India for crude oil. The reports for the first half (H1) of 2025 showcase a similar report as India’s crude oil imports from the United States have grown more than 50% in the first half of the year. While the imports from the US have seen a great rise, Russia has retained its position as the largest crude supplier of India.
As per the reports by the S&P Global Commodity Insights, the country, in the H1 of 2025, has received nearly 271,000 barrels a day (b/d) of crude oil from the US. This is 51% more than what they had received in the previous year. Last year, in the H1 (January to June) the country received 180,000 b/d from the US.
Abhishek Ranjan, the South Asia oil research lead at S&P Global Commodity Insights stated that although the supplies from the US have increased but they are limited to just a few refiners as of now thus giving them more room to grow.
“Crude supplies from the US have been rising but limited to a few refiners in India. This allows room for other refiners to grow US imports further during the year,” said Abhishek.
On the other hand, Russia continued to be India’s top crude supplier during H1 of 2025. The country received shipments averaging 1.67 million b/d growing very marginally from last year when they received 1.66 million b/d a year. Ranjan addressed the slow rise of the Russian imports and has stated that they expect the same supply from Russia.
“With a modest level of Russian imports in the early months of 2025, volumes are rising again, supported by lower crude prices that enable higher volumes to be procured below the price cap. As the global oversupply is expected to continue putting pressure on prices, we expect Russian flows to remain at current levels, if not increase,” Ranjan said.
