Key facts
- India is set to import record volumes of U.S. liquefied petroleum gas (LPG) in June.
- India's estimated U.S. LPG imports for June range from 1.1 million to 1.2 million tons.
- India's LPG imports from the UAE are expected to double in June compared to May.
- India's Russian crude oil imports are projected to reach a record 2.35 million bpd in June.
- Russian crude oil has accounted for up to 53.5% of India's total oil imports in June.
- The U.S. waiver on Russian oil sales has expired.
India is poised to import record volumes of liquefied petroleum gas (LPG) from the United States in June, aiming to compensate for constrained supply from the Middle East. Indian refining sources estimate between 1.1 million and 1.2 million tons of U.S. LPG will be received this month, nearly double the amount imported in May. Concurrently, India's imports of Russian crude oil are also expected to reach a record high in June, potentially constituting up to 53.5% of its total oil imports. This surge in Russian crude purchases follows the expiration of a U.S. waiver on Russian oil sales, with India having become a major buyer of discounted Russian oil since Western sanctions were imposed.
India's LPG imports from the United Arab Emirates are also projected to double in June. The country relies heavily on LPG for cooking, and supply has been strained by disruptions in the Strait of Hormuz, a key transit point for its imports. In response to these shortages, India has sought to boost supply agreements and increase imports from outside the Middle East, including record volumes from the U.S.