Russia remains India's top oil supplier in September
India's crude oil imports ticked up by 1.7% in September 2024, reaching nearly 20 million metric tons—a sign of the country's growing appetite for fuel as industries and transport expand.
Even with US sanctions in play, Russia held onto its spot as India's biggest oil supplier, making up 34% of imports in September 2024.
Private companies like Reliance took advantage of discounted Russian crude, while state refiners pulled back.
India diversifies its oil sources amid looming sanctions
With tighter sanctions looming (all deals with sanctioned Russian producers must stop by November 21), Indian refiners are branching out.
Two have just bought a rare batch of Guyanese oil from Exxon Mobil for late 2025 or early 2026 delivery—showing how India is getting creative to keep its energy flowing despite global pressures.