By Admin 
Russian Oil Import: India increased crude oil imports from Russia during May 2026. According to media reports, Indian refineries purchased more Russian oil available at a discount, resulting in a significant increase in imports. This figure is said to be the highest level in the last 10 months.
Russia becomes the biggest supplier
After the Ukraine war, Russia turned towards Asian markets amidst the sanctions of Western countries. India got the most benefit from this. Due to availability of oil at cheap prices, Indian companies are continuously increasing purchases from Russia. Even in May, Russia remained India’s largest oil supplier.
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Why did imports increase?
According to experts, crude oil from Russia is cheaper than other sources. Apart from this, Indian refineries have increased purchases in view of the increasing demand. Margins of refining companies also improve due to availability of crude oil at low cost.
Iraq and Saudi Arabia behind
Due to increase in imports from Russia during May, the share of traditional suppliers like Iraq and Saudi Arabia remained less. However, India continues to buy oil from many countries to meet its energy needs.
India’s energy security got support
Experts believe that increasing imports from Russia is necessary for India’s energy security. India imports about 85 percent of its crude oil needs. In such a situation, availability of oil at cheap rates helps in controlling the country’s import bill.
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Will common people get benefit?
If crude oil prices remain controlled in the international market and refineries continue to get cheap oil, then the pressure on petrol and diesel prices may reduce in future. However, domestic fuel prices also depend on many other factors.
Investors are keeping an eye on the ongoing geopolitical tension in the Middle East and the situation in the global oil market. In such a situation, changes may be seen in India’s import pattern and oil prices in the coming months.