COST SAVINGS
India's crude oil import bill down 6th straight month Sept; falls 15% Apr-Sept
This story was originally published at 21:51 IST on 18 October 2025
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NEW DELHI – India's crude oil import bill for the first six months of the financial year 2025-26 (Apr-Mar) fell nearly 15% on year to $60.7 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, crude oil imports for Apr-Sept stood at 121.2 million tonnes, up slightly from 120.7 million tonnes reported during the same period last year, as per the report.
For September, the country's crude oil imports rose 7% on year to 20.1 million tonnes, according to the report. This marked the first rise in import volume after five months of decline. However, the country's crude oil import bill in September declined slightly on year to $10.2 billion from $10.5 billion. India is the world's third-largest importer of crude oil, after China and the US.
The country's dependency on crude oil imports during Apr-Sep rose to 88.4% from 87.9% a year ago. Import dependency for September also rose to 88.5% from 87.6% a year ago. Domestic crude oil production during Apr-Sept fell over 1% on year to 14.2 million tonnes, as per the report.
In Apr-Sept, India consumed 118.3 million tonnes of petroleum products, up 1% from 117.1 million tonnes a year ago. The output of petroleum products, however, fell marginally to 139.6 million tonnes from 139.9 million tonnes.
In the first half of FY26, gross total petroleum imports, including crude oil and petroleum products, rose marginally on year to 145.9 million tonnes, but their value fell over 13% on year to $71.8 billion, as per data from the ministry. India's exports of petroleum products fell 1% on year to 31.4 million tonnes during this period. The value of the exports declined over 12% on year to $19.4 billion. End
US$1 = INR 87.97
Reported by Devanshi Verma
Edited by Rajeev Pai
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