India’s fuel exports hit 1-year high as Russia diesel export ban helps
India's refined fuel exports reached a one-year high in July, driven by global supply disruptions and a ban on Russian diesel exports. Increased crude imports from Russia have allowed Indian refiners to capitalize on higher margins by supplying regions previously dependent on Russian and Middle Eastern fuel.
Why it matters
The shift highlights how geopolitical conflicts in Europe and the Middle East are fundamentally reshaping global energy trade routes and increasing India's strategic importance in the fuel market.
Amid the ongoing US-Iran conflict, India’s fuel exports have hit a 1-year high. Exports of refined petroleum products climbed to a one-year high in July, supported by strong diesel refining margins, Russia's ban on diesel exports and abundant crude availability during the temporary ceasefire in the Iran conflict. This enabled domestic refiners to increase overseas shipments.According to shipping data from analytics firm Kpler, India exported 1.53 million barrels per day (bpd) of refined fuels during July. This is about 27% higher than the average monthly volume over the previous 12 months. Incidentally, India’s crude oil imports from Russia also hit an all-time high of 2.8 million barrels per day in July.The July export shipment volume was the highest recorded for the month since Kpler began tracking the data in 2017.
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