India rebalances crude imports as Indian basket crude tops $130
When the Indian basket crude oil price crossed $130 per barrel on September 16, 2026, India, which imports the lion's share of its crude requirement, kept things steady by mixing up where it got its oil.
Russia remained India's top supplier, making up more than 40% of imports, while countries like the UAE, Venezuela, Oman, and Brazil also chipped in more.
Imports from Iraq and the US dropped off as India rebalanced supplies to keep energy flowing.
India's city gas distribution up 26%
On the ground, demand for gasoline and diesel stayed strong so people could keep moving. Meanwhile, use of LPG and kerosene fell noticeably.
City Gas Distribution (think piped gas for homes and CNG vehicles) jumped by 26%, showing a clear move to prioritize households and cleaner transport.
At the same time, industries like petrochemicals and power scaled back their gas use to help balance things out during this price crunch.