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Russia oil shipments take over half of India’s crude imports in July

Russia shipped about 2.47 million barrels per day of crude to India last month, a 62.4% year-over-year jump that lifted its share to 50.83% of total imports.

Reported · Written up by our desk · Energy

Russia accounted for more than half of India’s crude oil import volumes in July, reaching the highest share in the country’s import mix since the latest data period, according to trade figures cited by Reuters. Russia exported crude to India at a rate of about 2.47 million barrels per day last month, representing 50.83% of India’s total oil imports. That volume was up 62.4% from a year earlier.

Reuters also reported that July volumes were below June’s average, which stood at 2.6 million barrels per day, the highest monthly average for Russian crude shipments to India. Kpler data cited in the report showed Russia averaging 2.45 million barrels per day in July, while the flows continued even after a U.S. sanction waiver expired.

The report said Russia remained India’s largest oil supplier in July, ahead of the United Arab Emirates and Saudi Arabia. The UAE shipped about 617,000 barrels per day and Saudi Arabia about 586,000 barrels per day, while Russian volumes have averaged over 2 million barrels per day since India’s fiscal year began April 1, when Russian crude made up more than 42% of total imports.

Reuters noted that this mix could change after the latest U.S. sanctions, which include 100% tariffs on imports from countries that buy Russian crude.

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