India on track to import record 5.4mbd in October 2026
Business
India is on track to import a record 5.4 million barrels of crude oil a day during October 2026.
This jump comes as the country taps into more supplies from West Asia and the Atlantic basin, while Russian oil, though still significant, isn't quite at its previous highs.
India: Russia's share drops to 35%
Russia's share of India's oil imports has dropped from 55% in July to 35%, mostly because shipping costs went up.
To stay competitive, West Asian countries like Saudi Arabia and Iraq are offering better deals, and West of Suez (WoS) crude arrivals have doubled to around 1.2MB/d in October from 0.6MB/d in September, with Angola recording the largest increase and Venezuela following.
All these moves help Indian refiners keep options open as global supply patterns shift.