India Secures Crude Supply Through August With Higher UAE Imports

India has secured its crude oil supply through at least August by significantly increasing its imports from the United Arab Emirates (UAE), as well as from Africa and Brazil. This strategic move aims to diversify the country's energy sources amid ongoing concerns about supply disruptions from the Middle East.

State-run refiners are boosting purchases of both crude oil and liquefied petroleum gas (LPG) from the UAE following a recent agreement with Abu Dhabi's national oil company, ADNOC. ADNOC is facilitating these supplies by offering crude from Fujairah, a location outside the Strait of Hormuz, and through ship-to-ship transfers. Traders report that Indian refiners have acquired millions of barrels of Murban crude from the UAE.

In addition to UAE supplies, India is also increasing its intake of crude from West African producers like Nigeria and Angola, and South American nations such as Brazil and Venezuela. Notably, India resumed imports of Venezuelan crude in April after the U.S. permitted the sale of Venezuelan oil. Russia continues to be India's primary crude supplier, a position solidified by U.S. waivers that permit these purchases, despite earlier U.S. pressure on India to reduce its Russian oil imports.