A big change is being seen in the global crude oil market. India, one of the world’s largest oil importers, appears to be shifting its buying strategy. According to reports, India can import 1–1.1 million barrels per day crude from Saudi Arabia this month, which will be the highest since 2019. After the Ukraine war, India had bought discounted Russian oil, but now imports from Russia may come down to 800,000–1 million barrels per day. According to energy analytics firm Kpler, this is a big strategic shift. Will Saudi Arabia again become India’s top supplier? Know what is changing in the global oil game.

A big change is being seen in India’s oil imports. In January-February 2026, India’s crude import from Russia fell to its lowest level since 2022, and Middle East suppliers, especially Saudi Arabia, are again becoming India’s top oil supplier. Russia’s share has fallen to around 21% while Middle Eastern oil share has increased to around 55%. This change is also due to India-US trade pressures along with sanctions and global trade dynamics. India is now diversifying its oil sources — Russia will still remain the supplier but imports from countries like Saudi Arabia, UAE and Venezuela are increasing. India can benefit from this in pricing options, stable supply and energy security.

Now a clear shift is being seen in India’s oil import strategy. Amidst increasing US pressure and global trade challenges, India is increasing focus on alternative sources like Venezuela while reducing dependence on Russia. Trade concerns have increased due to imposition of 25% to 50% tariffs on Indian exports due to Russian crude. Meanwhile, energy ties with Venezuela are being revived again, which is also indicated by the talks of PM Modi and the leadership there. India is gradually reducing oil imports from Russia from 12 lakh bpd to 5–6 lakh bpd. Refiners like HPCL, MRPL, IOC and BPCL are also changing their sourcing strategy. Overall, India is trying to create a balance between energy security and global pressure by diversifying its oil basket.