India increased its crude oil imports from the United States by almost 34% in April compared to the previous month. The country brought in 326,000 barrels per day (bpd) from the US, up from much lower levels last year. This jump is part of India’s plan to buy more from the US to balance trade and strengthen ties with Washington.
The rise in US oil imports fits into America’s larger goal of exporting more oil and gas. Former President Donald Trump had pushed for this, and India, being a major oil buyer, is an attractive market. However, this high level of imports from the US may come down in the coming months as Indian refineries shut for regular maintenance.
At the same time, oil imports from Russia dropped in April. India imported 1.53 million bpd from Russia last month, lower than March’s 1.69 million bpd and much lower than April 2024’s 1.82 million bpd. Despite the decline, Russia remains India’s top crude oil supplier.
Iraq continued as the second-largest source for Indian crude oil, increasing shipments slightly to 864,330 bpd. Saudi Arabia, however, saw a big fall in its exports to India, dropping to 470,608 bpd in April from over 626,000 bpd in March.
Overall, India’s crude oil imports were slightly lower in April at 4.52 million bpd compared to 4.69 million bpd in April last year. The country is adjusting its buying strategy based on global trends, refinery needs, and its goal to reduce trade gaps.
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