India’s crude imports hit record high in Oct as refiners stock up for festivals, product exports
Crude imports by Indian refiners rose to an all-time high of 5.54 million b/d in October, as refiners capitalized on improved availability to build supplies ahead of festival demand, while processing higher volumes to produce additional middle distillates for international markets facing supply tightness, industry sources and analysts said Nov. 3. Domestic-bound crude imports in ...
Indian refiners imported a record-high 5.54 million barrels of crude per day in October, according to industry sources. The surge in imports was driven by the need to stock up for festival demand and to meet international product export requirements, amid tight supply conditions. The monthly average of crude imports surpassed the previous record of 5.50 million b/d set in March 2025.
Russian imports, which had peaked in June and July, remained strong at around 2 million b/d in October. Meanwhile, Middle Eastern producers, particularly Saudi Arabia and Iraq, were delivering more barrels to India, offering additional supply options. US crude flows into India also increased, reaching 150,000 b/d in October, up 16% from September levels.
Indian refiners processed 5.62 million b/d in September, a 9.1% increase from the previous year, exceeding their target of 5.27 million b/d. The data suggests that India's crude imports will likely stay elevated due to strong refining margins and the commencement of new capacity.
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