Crude oil import data India (Business Opportunities - Marketing & Sales)

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Crude oil import data India


Crude oil import data India

In FY 2023–24, India imported around 232.5 million metric tonnes (MMT) of crude oil, maintaining previous year levels. Despite steady volumes, the crude oil import bill fell 16% to $132.4 billion due to a drop in global prices. Russia emerged as India’s top supplier, contributing about 35% of total imports, surpassing traditional Middle Eastern sources. Domestic crude production remained stagnant at 29.4 MMT, increasing India’s import dependency to 87.7%. This shift reflects India's strategic move to diversify crude sources and manage energy costs. Import trends highlight the country’s continued reliance on foreign oil to meet rising energy demands, Crude oil import data India, Indianpetroplus

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Last Update : May 15, 2025 3:37 PM
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