Indian Oil Imports from Russia Plummet 26% Amid Tighter Export Availability and Chinese Competition

India's imports of Russian oil in August decreased by 26% compared to July's record levels, according to tanker data from Kpler. The decrease was due to tighter export availability and increased competition for Russian barrels from China.

India imported 2.08 million barrels per day (bpd) of Russian oil in August, down from 2.82 million bpd in July. Moscow's share of India's crude imports declined to 45% in August from 55.9% in July.

The shift is seen as a sign of market normalisation rather than a structural retreat from Russian crude, with flows expected to stabilise at 2.0-2.5 million bpd in the foreseeable future.

However, India's ability to secure Russian oil may be under pressure due to evolving energy market conditions, including Russia's constrained export capacity and intensified competition for Russian barrels.