Economy News

Oil Imports of India

October 17 , 2026 15 hrs 0 min 27 0

Russia, the United States (U.S.) and the United Arab Emirates (UAE) supplied a record 66.8% of India’s total oil imports by volume in August 2026.
Russia supplied 44.3% (84.8 lakh tonnes), while the UAE supplied 17.4% (33 lakh tonnes) and the U.S. supplied 5.1% (9.7 lakh tonnes).
India imported 191.2 lakh tonnes of oil in August 2026, while its oil import bill reached $12.2 billion, nearly 25% higher than in August 2025.
Russia’s share fell from 51% in July to 44.3% in August 2026; U.S. oil imports rose nearly 82% from July, while UAE imports increased amid alternative supply routes.
The three countries accounted for 67.8% of India’s total oil import bill; U.S. oil cost an average of $810.6 per tonne, compared with $640 per tonne for all imports.