{
  "id": 16176171,
  "title": "India's September crude oil imports jump over 16% month-on-month",
  "url": "https://urgent.news/2026/10/23/indias-september-crude-oil-imports-jump-over-16-month-on-month",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T09:25:20.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/economy/indias-september-crude-oil-imports-jump-over-16-month-on-month/article71615334.ece"
  },
  "original_language": "en",
  "account": "India's crude oil imports surged over 16 percent in September compared to the previous month, reaching 22.26 million metric tonnes, according to government figures released on Friday. Annually, crude oil imports rose by 9 percent, from 20.35 million tonnes in September the previous year, as reported by the Petroleum Planning and Analysis Cell. Oil product imports fell by 0.8 percent in September from August but were down roughly 40 percent compared to a year earlier. Exported products experienced a more than 6 percent increase, totaling 5.22 million tonnes on an annual basis. The rise in imports can be attributed to the return of Middle Eastern barrels and a decrease in Russian volumes, indicating a normalization of India's crude oil mix as Gulf supplies recover, stated Giovanni Staunovo, an analyst at UBS. Russian oil imports in September dropped by 13.7 percent from the previous month, amounting to about 1.8 million barrels per day, accounting for nearly a third of total purchases, as per trade sources. Fuel consumption in India increased by 3.9 percent in September from August, reaching 19.26 million metric tonnes, as per data from earlier this month. LPG imports rose to 1.40 million tonnes in September from 1.30 million tonnes in August, while fuel oil imports plummeted nearly 99 percent year-on-year to 0.01 million tonnes in September, down significantly from 0.69 million tonnes a year earlier. Exports of jet fuel rose by 32.5 percent month-on-month to 0.53 million tonnes. The Indian government reduced windfall taxes on exports of diesel and aviation turbine fuel from October 1, after reintroducing the tax in March 2026 following a surge in crude prices during the US-Israeli conflict with Iran. Petrol exports last month were 49 percent lower year-on-year, and diesel exports decreased nearly 27 percent for the same period.",
  "summary": "Imports of oil products fell 0.8% in September from August, but were down about 40% from a year earlier",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}