India sets record with over half its crude from Russia
India just broke its own record for Russian oil import share, with over half of its crude coming from Russia in July, about 2.47 million barrels a day.
That's a huge jump from last year, even though it's slightly less than June's peak.
This surge is happening while the US Senate passed legislation this month to impose steep tariffs of 100% on buyers of Russian oil, which could shake up how India gets its energy.
Supplier shifts raise India's import vulnerability
Russian oil now makes up 43.25% of India's crude imports, as Middle Eastern suppliers have slipped and Latin America has gained ground, thanks to more shipments from Brazil and Venezuela.
The United Arab Emirates has also been offering large volumes through spot tenders, allowing Indian refiners to increase purchases.
Since India relies on imports for more than 90% of its crude oil needs, these shifts make the country more vulnerable to disruptions in global oil trade and highlight how quickly energy sources can change.