India's July oil imports hit record level of Russian crude amid Gulf supply rebound
In July, India bought a record 2.8 million barrels per day of Russian crude, making up over half of its total oil purchases while also increasing imports from Gulf nations.
India's oil imports in July reached a post-Ukraine-war high, with Russian crude rising to 2.8 million barrels per day and representing 55.5% of the country's total intake. Analysts attribute the surge to the reliability of Russian shipments after recent geopolitical tensions around the Strait of Hormuz and Bab el-Mandeb, as well as reduced Russian refining capacity due to drone attacks. Discounts on Russian Urals crude have largely vanished, prompting refiners to diversify again toward West Asian sources.
Saudi Arabia's exports to India climbed to 4.2 lakh barrels per day, while Iraq and Kuwait resumed shipments after earlier suspensions. Meanwhile, the United States continued to dominate India's LPG market, providing about 73% of the 1.2 million tonnes imported. The overall pattern reflects a rebalancing of India's energy supply chain as Gulf routes normalize.
Why it matters
India's shift toward more Russian oil and renewed Gulf imports reshapes global energy trade and price dynamics.
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