In September, India’s crude oil imports jumped by 1.7 percent from the previous month, touching 19.93 million metric tons. This is a significant jump of 6.1 percent compared to the same period last year. This rise signifies the demand for energy amid the growing complexity of the global market.
Analysts suggest that this year there will be a rise in stock-up figures by the refiners. This move is driven by several factors, including the festive season’s oil consumption boom and hedging of barrels amidst rising geopolitical tensions and the growing risk of supply disruptions, as mentioned in a Reuters report.
Besides these factors, India’s supplier relationships showed mixed signals. Russian dominance in crude exports is showing weaker signals. The huge demand for discounted Russian barrels has decreased over the past years, which led the Indian refiners to diversify their sourcing. This confusion occurred due to the fresh US sanctions targeting major Russian oil producers. The United States has given a deadline of November 21, 2025, to reduce all transactions with the sanctioned Russian entities, namely Rosneft and Lukoil.
In recent weeks, imports saw a significant rise from different locations, including the Middle East and the United States. India even made a deal to purchase 4 million barrels of Guyanese crude in the coming months.
Noticeably, imports from the United States have surged to their highest points since 2022. This effect is motivated by a strategic effort to strengthen energy ties with Washington.
India is the third-largest oil importer and consumer in the world; hence, India’s purchasing decisions are an important factor for the global oil market. Recent data showed a strategic shift, which balances the immediate demand along with the urgent need to secure geopolitical relations and long-term supplies in the increasingly confused energy world.
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