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India meets 90% of crude oil demand with imports, report shows
India’s primary energy import dependence edged down to 42% in FY2025, but crude oil imports still account for 90% of consumption and demand is rising alongside falling domestic production.
India remains heavily reliant on overseas crude oil, with a joint industry report finding that 90% of the country’s crude oil demand is met through imports.
The report, cited by OilPrice, said India’s overall dependence on primary energy imports declined modestly to 42% in financial year 2025 from 47% in FY2017, according to analysis by the Confederation of Indian Industry and EY.
OilPrice also noted that India is the world’s third-largest crude oil importer, and has seen rising crude import dependence as demand climbs and domestic production falls.
In response to past supply disruptions, including Middle East tensions and risks to crude flows through the Strait of Hormuz, India has been looking to expand strategic storage, with ONGC planning a new site at Mangaluru to hold about 13 million barrels.
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