India's overall oil imports surged in September 2026, rising 20 percent month-on-month to approximately 5.33 million barrels per day (bpd). This increase was driven by a significant rise in imports of West Asian crude oil, which returned to pre-war levels, while Indian refiners reduced their purchases of Russian oil due to intense competition from China.

Key Developments

Refiners actively purchased spot cargoes as Middle Eastern producers ramped up shipments through the Strait of Hormuz, alleviating supply constraints that had arisen from the ongoing Iran war. Initially, India had increased its imports of Russian crude to compensate for diminished supplies from the Middle East at the war's onset.

  • Crude imports from the Middle East rose to about 2.8 million bpd in September, the highest level since February, marking an increase from 32 percent in August.
  • Gulf oil accounted for approximately 54 percent of India's overall imports.