India’s dependence on imported crude oil reached a new milestone in September 2026, with total purchases climbing to a record level as Russian supplies continued to account for a substantial share of the country’s energy imports.

According to figures reported by OPEC, India imported approximately 5.4 million barrels of crude oil per day during September. The volume represented a 20% increase compared with August and was 13% higher than the corresponding period in 2025.

The surge highlights India’s growing energy requirements as its refineries maintain strong processing activity to meet domestic consumption and international demand.

Russia Remains India’s Largest Oil Supplier

Russia maintained its position as India’s leading crude oil supplier in September, accounting for approximately 35% of total imports.

However, its share declined from 45% in August, indicating a change in the composition of India’s oil purchases.

Iraq and Saudi Arabia each supplied around 10% of India’s imported crude during the reporting period.

Despite the reduction in Russia’s market share, its position remains significant in India’s energy supply chain.

Russian crude has become an important component of India’s import strategy, particularly as refiners seek competitive supplies from multiple international producers.

Why India’s Oil Imports Are Increasing

The record import volume reflects strong demand from India’s refining industry.

Crude oil is essential for producing petrol, diesel, aviation fuel, liquefied petroleum gas and numerous industrial petroleum products.

As economic activity expands, demand for transportation fuels and industrial energy products can increase, requiring refineries to process larger volumes of crude.

India’s growing population, expanding manufacturing sector and transportation requirements also contribute to its long-term energy needs.

Higher refinery utilisation has consequently increased the importance of maintaining reliable international supply arrangements.

India’s Energy Strategy and Russian Oil

India has developed a diversified approach to securing its energy requirements.

Although Russia has emerged as a major supplier, the country continues to purchase crude from established producers in the Middle East and other international markets.

This strategy allows Indian refiners to compare prices, manage supply risks and adjust purchasing decisions according to market conditions.

Russian oil remains commercially important because competitive pricing can provide refiners with opportunities to manage operating costs.

However, geopolitical developments, international sanctions, shipping expenses and payment arrangements can influence future purchasing decisions.

China Also Increases Its Oil Imports

India was not the only major Asian economy reporting stronger crude oil imports.

China’s oil purchases increased by more than 1.5% in September, reaching approximately 9.04 million barrels per day.

Russia remained China’s largest supplier, accounting for 28% of its total crude imports, compared with 30% in August.

Brazil supplied approximately 14%, while Iraq accounted for around 13%.

China also recorded a substantial increase in petroleum product exports, with shipments rising 17% month-on-month and 36% year-on-year to approximately 1.8 million barrels per day.

These figures demonstrate the continuing importance of Asian economies in international energy trade.

Implications for the Global Oil Market

India’s record imports underline the importance of Asian demand in shaping global crude oil flows.

When major economies increase refinery purchases, international suppliers may adjust shipping schedules, commercial contracts and production strategies.

Russia’s continued presence in the Indian market also illustrates how global energy trade patterns have evolved in response to changing geopolitical and commercial conditions.

For oil-producing countries, access to large Asian markets remains an important consideration when developing export strategies.

For India, maintaining a diversified supplier network is essential to managing energy security and reducing exposure to disruptions.

What Lies Ahead for India’s Energy Market?

India’s growing oil requirements are likely to keep international suppliers focused on the country’s refining industry.

Future import levels will depend on refinery operations, domestic fuel consumption, global crude prices and the availability of competitive supplies.

Russia is expected to remain an important participant in India’s oil trade, although monthly changes in supplier shares demonstrate that purchasing patterns can shift.

The September record highlights India’s expanding position in the global energy market and the importance of international partnerships in meeting its growing demand for crude oil.