Russian share of India's oil imports surges to record high in July

India’s reliance on Russian crude hit a record in July, with Russian shipments rising to 50.83% of total crude imports (2.47 million barrels per day). The higher dependence underscores ongoing sourcing shifts tied to the Russia-Ukraine energy trade. This could be a modest headwind for diversification risk and keep market attention on crude supply dynamics.

Analysis

India’s reliance on Russian crude hit a record in July, with Russian shipments rising to 50.83% of total crude imports (2.47 million barrels per day). The higher dependence underscores ongoing sourcing shifts tied to the Russia-Ukraine energy trade. This could be a modest headwind for diversification risk and keep market attention on crude supply dynamics.