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Informist, Wednesday, Mar. 25, 2026

 

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--Kpler: India Mar crude oil imports 4.2 mln bpd as of Wed, down 19% on mo 
--Kpler: India Mar crude oil imports from Russia up 82% on month 
--Kpler: India Mar crude oil imports from Russia at 1.9 mln bpd as of Wed 
--Kpler: India Mar crude oil imports from Saudi Arabia at 558,000 bpd 
--Kpler: India imported average 1.7 mln bpd of Russian barrels in 2025 
--Kpler: India Mar crude oil imports from Saudi Arabia down 45% on month 
--Kpler: India Mar crude oil imports from Iraq down 69% on mo at 298,000 bpd 
--Kpler: India Mar crude oil imports from UAE dn 73% on month at 151,000 bpd 
--Kpler: Indian refiners may secure around 32 mln bbl oil on water 
--Kpler says Iranian crude oil availability high at 170 mln bbl on water

 

By Ashutosh Pati and Pallavi Singhal

 

MUMBAI/NEW DELHI – India's overall crude oil imports fell around 19% on month to 4.2 million barrels per day this month, with a significant fall seen from West Asian nations due to the US-Israel war on Iran. However, Russian barrels have staged a comeback in India's oil import basket, rising over 82% on month in March, according to data from global trade and analytics firm Kpler.

 

India's crude oil imports from Russia have risen to 1.9 million barrels per day this month, as of Wednesday, from just over a million barrel per day last month, and up around 12% from last year's average. The surge in imports from Russia happened after the US issued a 30-day waiver allowing India refiners to buy oil from Russia. Last year, India's crude oil imports from Russia were at 1.7 million barrels per day, with a gradual fall seen towards the end of the year.

 

India imports a large chunk of its crude oil from West Asian nations Saudi Arabia, Iraq, and the United Arab Emirates. Imports from these nations fell significantly this month due to the effective closure of the Strait of Hormuz, a critical chokepoint through which 20% of world's oil flows. India imported 558,000 barrels per day of crude oil from Saudi Arabia this month, down 45% on month. It imported 298,000 barrels per day from Iraq and 151,000 barrels per day from UAE, down 69% and 73% on month, respectively.

 

Indian refiners may secure around 32 million barrels of crude oil currently on water, according to Kpler.

 

"Recent market chatter around a potential return of Iranian crude to India is gaining traction. India could re-emerge as a key demand centre to watch, alongside Chinese buyers and other Asian importers," said Sumit Ritolia, lead research analyst, refining and modelling at Kpler.

 

Historically, India was a major buyer of crude from Iran, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms. Imports ceased from May 2019 following tighter sanctions. At its peak, Iranian crude accounted for around 11.5% of India's total imports, according to Kpler data.

 

Currently, Iranian crude availability remains high, with an estimated 170 million barrels on water, including floating storage and cargoes in transit, Ritolia said. Of this, around 2 million barrels are positioned near the Indian Ocean, 13 million barrels in the Arabian Sea, and 17 million barrels in the Middle East Gulf, which Indian refiners could potentially secure. However, any uptake will depend on commercial considerations, including pricing structures, and the availability of payment, insurance and logistics mechanisms.

 

On liquified petroleum gas, Ritolia said more cargoes could come from Iran as supply chains look to secure alternative volumes, with supply remaining constrained and LPG continuing to be a critical factor.  End

 

Edited by Akul Nishant Akhoury

 

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