Russian oil imports to India drop below 40% for 1st time

India Oct 15, 2025

India's oil imports from Russia slid to 34% in September 2025. For the April-September period, Russia's share fell to 36%.
With Russian discounts shrinking and supplies tightening, Indian refiners have started picking up more barrels from the Middle East and the US instead.

US and Middle East are gaining ground

This shift is all about India not putting all its eggs in one basket—diversifying energy sources for stability.
The Middle East now makes up 45% of India's crude imports, and US shipments are up too.
Still, Russian oil isn't out of the picture; it remains attractive thanks to decent pricing and solid margins, especially as demand rises during festival season.