India's April-June crude oil import bill jumps 61% to $49.8bn
Business
India's crude oil import bill shot up 61% to $49.8 billion between April and June 2026, even though the country actually bought less oil than last year.
The main reason? Global crude prices spiked above $100 a barrel thanks to geopolitical tensions and shipping issues, making things pricier for everyone.
India June 2nd-biggest Russian hydrocarbons buyer
Even with India importing less oil overall in June, costs still climbed, up 48% from last year for that month alone.
At the same time, India turned more to Russia for its energy needs: Russian crude imports jumped 34%, making India the world's second-biggest buyer of Russian hydrocarbons that month.