India's Crude Oil Import Dependence
India imports approximately 85% of its crude oil requirements, making it the world's third-largest oil importer and consumer. This structural import dependence is the central vulnerability in any West Asia disruption scenario.
- In FY2025, nearly 50% of India's crude oil imports and 54% of LNG imports were routed through the Strait of Hormuz.
- India imports 80-85% of its LPG via the Hormuz corridor.
- West Asia (GCC countries) accounted for approximately 51% of India's crude imports by early 2026, with Saudi Arabia and Iraq being the largest suppliers.
- Russia's share of Indian crude imports declined to around 20% by early 2026 (from a peak of ~37%) as Gulf nations' share surged.
- Any sustained crude price spike translates directly into imported inflation in India — affecting fuel prices, transport costs, and the current account deficit.
● Tracked since March 02, 2026 · last seen August 01, 2026 · updates as the daily brief publishes
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