India's Crude Oil Import Diversification Strategy
India's heavy dependence on imported crude oil (approximately 89% of consumption) makes source diversification a critical component of energy security strategy, particularly amid shifting geopolitical alignments.
- India's crude oil import dependence: approximately 89% (March 2025), making it the world's third-largest oil importer.
- Pre-2022 pattern: India primarily sourced crude from the Middle East — Iraq, Saudi Arabia, UAE, Kuwait — with Russia supplying less than 2%.
- Post-2022 shift: After Western sanctions on Russia following the Ukraine invasion, Indian refiners significantly increased Russian crude purchases, with Russia's share surging to 18-22% by 2025.
- India's crude oil imports were worth approximately $155 billion in FY 2024-25.
- Strategic Petroleum Reserves (SPR): India has 5.33 MMT capacity across Visakhapatnam, Mangaluru, and Padur — roughly 9.5 days of import cover (IEA recommends 90 days).
- Economic Survey 2025-26 noted India has widened its crude oil import base, with rising purchases from Libya, Egypt, Brazil, US, and Brunei.
- India consumed approximately 5.7 million barrels per day (bpd) in 2025.
● Tracked since February 18, 2026 · last seen April 04, 2026 · updates as the daily brief publishes
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