India Boosts Middle East Oil Imports, Cuts Russian Flows

India has increased its Middle Eastern crude oil imports while simultaneously reducing purchases of Russian crude, according to reports from Indian media citing data from Kpler. However, India is not planning to entirely halt Russian oil imports despite the threat of 100% tariffs from the United States.

Oil imports from Middle Eastern producers averaged 3 million barrels per day in the current month, while Russian oil purchases averaged 1.75 million barrels per day. This represents a return to pre-war import levels for the Middle East and a decline from August, when Russian imports averaged 2.1 million barrels daily.

Despite the decline in Russian oil imports, Russia remains the largest single supplier of crude oil to India, accounting for the majority of India's crude oil imports. India's total crude oil imports stood at 5.3 million barrels per day, a significant increase from the previous month.

Kpler analyst Sumit Ritolia stated that Russia is still a crucial part of India's crude oil import basket, and the recent decline in Russian imports is not indicative of a shift away from Russian oil. India is the second-largest importer of Russian crude oil, behind China, and imports from Russia have accounted for nearly half of India's crude purchases in recent months.

This could potentially lead to increased tariffs on Indian exports to the United States, further complicating already tense trade relations between the two countries.