Crude Import
India's crude oil import bill falls for 4th straight month, Apr-Jul down 18%
This story was originally published at 11:04 IST on 18 August 2025
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MUMBAI – India's crude oil import bill for the first four months of 2025-26 (Apr-Mar) fell nearly 18% on year to $40.4 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, the country's crude oil imports were at 81.2 million tonnes in Apr-Jul, down from 81.7 million tonnes from the corresponding period a year ago, the report said.
In July, the country's crude oil import bill declined over 17.4% on year to $9.5 billion, the report said. This was the fourth consecutive month of decline in crude import bill since the start of FY26. Crude oil imports in volume terms slipped 4.1% on year to 18.6 million tonnes last month. 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-Jul rose to 88.8% from 88.1% in the corresponding period a year ago. Domestic crude oil production fell 2% on year to 9.5 million tonnes during the period and consumption of petroleum products fell slightly to 81.0 million tonnes from 81.4 million tonnes, the data showed. The output of petroleum products in Apr-Jul also fell slightly to 94.1 million tonnes from 94.5 million tonnes.
In Apr-Jul, gross total petroleum imports, including crude oil and petroleum products, fell 1% on year to 97.9 million tonnes. The value of gross total petroleum imports fell 15.6% on year to $48.0 billion, the data showed. India's exports of petroleum products were unchanged on year at 20.1 million tonnes during the period. However, the value of exports declined 16.3% on year to $12.3 billion during Apr-Jul. End
US$1 = INR 87.41
Reported by Afra Abubacker
Edited by Avishek Dutta
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