India Apr-Dec crude oil import bill dn 12% YoY to $90.7 bln; Dec bill dn 8%
This story was originally published at 13:10 IST on 21 January 2026
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MUMBAI – India's crude oil import bill for the first nine months of 2025-26 (Apr-Mar) fell around 12% on year to $90.7 billion, despite a rise in import volume, according to a report by the Petroleum Planning and Analysis Cell. During Apr-Dec, the country imported 184.4 million tonnes of crude oil, up around 3% from the year ago period.
In December, India imported 20.8 million tonnes of crude oil, up from 20.2 million tonnes a year ago. The country's import bill in December fell over 8% on year to $9.7 billion, amid weak global crude oil prices. The average Brent crude oil price fell to $62.68 per barrel in December from $63.65 per barrel the previous month, and $73.94 per barrel in the year-ago period. The average price of Indian crude basket was $62.20 per barrel in December, as against $64.31 per barrel in the preceding month and $73.34 per barrel in December 2024, the report said.
The country's dependency on crude oil imports in Apr-Dec rose to 88.6% from 88.1% in the year-ago period. Domestic crude oil production in Apr-Dec fell slightly to 21.2 million tonnes from 21.6 million tonnes a year ago, while consumption of petroleum products rose to 181.6 million tonnes from 178.7 million tonnes.
In Apr-Dec, total gross petroleum imports, including crude oil and petroleum products, rose around 2% on year to 222.5 million tonnes. The value of gross total petroleum imports fell to $107.2 billion from $120.4 billion a year ago, the report showed. India's exports of petroleum products fell marginally to 47.5 million tonnes in Apr-Dec from 47.8 million tonnes in the year-ago period. The value of exports declined to $29.8 billion from $32.8 billion. End
US$1 = INR 91.56
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Deephikha Bhardwaj
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