India's West Asia oil imports return to pre-war levels in September
India's crude oil imports from West Asia rebounded to pre-war levels in September as supply constraints eased. Simultaneously, Indian refiners reduced their intake of Russian oil due to increased competition and shifting market dynamics.
Why it matters
This shift highlights India's strategic balancing act in global energy markets and its sensitivity to geopolitical tensions in the Middle East.
India's West Asia oil imports return to pre-war levels in September left Representational image Getty Images/iStockphoto Getty Images/iStockphoto https://th-i.thgim.com/public/news/national/fvu6tk/article71610585.ece/alternates/FREE_1200/iStock-182703770%201.jpg shotbydave A royalty free image from the oil industry of three pumpjacks on a prairie at sunrise. Refiners snapped up spot cargoes as West Asian producers and traders cranked up shipments through the Strait of Hormuz, easing supply constraints caused by the Iran war. India's imports of West Asian crude oil surged in September, returning to pre-war levels, while its refiners cut back purchases of Russian oil amid stiff competition with China, ship tracking data showed. India’s crude imports rise 7% in September, bill surges 47% India’s crude imports rise 7% in September, bill surges 47% Net spend on oil and gas imports increased about 40% to $13.4 billion.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in