India's Russian Crude Imports Plummet by 26.3% Amid Global Supply Disruptions
India's imports of Russian crude oil declined by 26.3% in August compared to July, according to provisional tanker-tracking data from commodities intelligence firm Kpler. The country imported about 2.08 million barrels per day (bpd) of Russian crude in August, down from roughly 2.82 million bpd in July.
Russia remained India's largest crude supplier in August, accounting for about 45% of total imports, down from 55.9% in July. India's overall crude imports also decreased to around 4.62 million bpd from 5.04 million bpd, an 8.4% monthly fall.
The decline is attributed to tighter Russian export availability, increased competition from Chinese refiners, and maintenance at some Indian refineries. However, analysts suggest that the reduction reflects a combination of refinery maintenance, normalisation after unusually high purchases, lower Russian availability, and Chinese competition.