Overview

• Russia accounted for around 40% of India’s crude imports in June as volumes rose to 2.08 million barrels per day.
• Three major refineries processed over half of the Russian oil to produce refined products bound for G7+ markets.
• Imports from Iraq declined by 17.2% to 893,000 barrels per day, while Saudi Arabian and UAE supplies held steady or edged higher.
• Crude shipments from the U.S. climbed more than 50% to 271,000 barrels per day in the first half of 2025 and Brazilian inflows jumped 80% to 73,000 barrels per day.
• India remains over 85% reliant on imported crude, balancing discounted Russian barrels with increased non-OPEC sourcing.