Wedoany.com Report-Oct. 27, India's crude oil imports rose 1.7% month-on-month to 19.93 million metric tons in September, according to government data released Monday. As the world's third-largest oil importer and consumer, this figure highlights India’s ongoing oil demand. Compared with September 2024, imports increased 6.1% from 18.79 million tons, data from the Petroleum Planning and Analysis Cell shows.

Crude oil product imports also grew, rising about 20.9% year-on-year to 4.40 million tons in September, while product exports declined 4.8% to 6.18 million tons.

U.S. sanctions announced Thursday target Russia’s two leading oil producers, Lukoil and Rosneft, with companies required to wind down transactions by November 21. In response, Indian refiners are expected to sharply reduce Russian oil imports to comply with the new measures, potentially facilitating smoother trade with the U.S.

Between April and September, India’s imports of Russian oil fell 8.4% year-on-year due to narrower discounts and tighter availability. Refiners have increasingly sought supplies from the Middle East and the U.S., according to trade sources and shipping data.

Notably, two Indian refiners purchased 4 million barrels of Guyanese crude from U.S. major Exxon Mobil, scheduled for delivery at the end of 2025 or early 2026, marking rare imports from the South American producer, trade sources reported on October 17.