Key facts
- India's Russian oil imports fell in August from a record high in July.
- July imports reached 2.8 million barrels per day, over half of India's total crude imports.
- August imports are expected to decline to about 2 million barrels per day.
- Ukrainian attacks on Russian infrastructure and Chinese demand are cited as reasons for the decline.
- Indian refiners are diversifying supply sources, including West Africa and the Americas.
India's imports of Russian crude oil have decreased in August from a record high in July, influenced by Ukrainian attacks on Russian export facilities and increased competition from China for Russian barrels. In July, India's imports of Russian oil hit a new all-time high, accounting for more than half of its total crude oil imports, reaching 2.8 million barrels per day. This volume was up from the previous high of 2.7 million barrels per day in June.