India buys nearly 38% of its April oil from Russia
Business
India just bought nearly 38% of its oil from Russia in April, the most in nearly a year.
This jump happened as the West Asia crisis pushed prices up, and India ended up paying a huge premium of $77.8 per ton for Russian oil, up 425% from earlier discounts.
Overall, India's oil bill soared to $15.4 billion in April 2026, thanks to both higher prices and more barrels coming in.
India imports rebound, US shipments fall
India's total oil imports rebounded by 23% from March, hitting 19.53 million tons.
Russian crude made up about a third of that, nearly 6.7 million tons, which is a big leap from the previous month.
Meanwhile, US oil shipments to India dropped to their lowest level in eight months as India leaned even more on Russian supplies.