Middle East supplies surge as India diversifies crude sourcing.

Russian Share in India’s Oil Imports Slips to Two-Year Low in January.

India’s imports of Russian crude oil fell sharply in January, marking their lowest share since late 2022, according to industry data cited by Reuters. The world’s third-largest oil importer purchased around 1.1 million barrels per day (bpd) of crude from Russia last month, a decline of nearly 23.5% from December and about one-third lower than a year earlier. As a result, Russia’s share in India’s overall oil imports dropped to about 21.2%, the smallest proportion since October 2022. In contrast, Saudi Arabia has regained its position as India’s largest crude supplier, supported by stronger inflows from the Middle East. This shift has pushed the share of OPEC crude in India’s import basket to an 11-month high. The changing import pattern reflects India’s efforts to diversify energy sources amid Western sanctions on Moscow following the Ukraine conflict and broader geopolitical pressures. The move also highlights New Delhi’s strategy to balance cost advantages with supply security by strengthening ties with multiple energy partners.