India’s Crude Oil Imports Jump 11% To 5 Million BPD In May, Russian Purchases Rise 23% Amid West Asia Disruptions
· Free Press Journal
India’s crude oil imports rose 11 percent in May to 5 million barrels per day (bpd), according to a Moneycontrol report citing data from commodity analytics firm Kpler. The increase was mainly supported by stronger imports from Russia and Venezuela.
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The country imported around 4.5 million bpd in April. May imports are now expected to become the highest-ever crude import volume for the month of May.
Kpler analyst Sumit Ritolia told Moneycontrol that India’s average crude imports in 2025 stood near 4.8 million bpd, while May volumes are tracking close to 5 million bpd.
Crude Oil Surges Over 3% After Fresh US Strike On IranRussian Oil Remains India’s Biggest Supply Source
India increased its purchases of Russian crude by 23 percent in May to 1.9 million bpd, compared to 1.57 million bpd in April. Russia continued to remain India’s largest oil supplier during the month.
The United Arab Emirates was the second-largest supplier with 540,000 bpd, while Saudi Arabia supplied 398,000 bpd.
However, imports from the UAE declined 4 percent from April levels. Saudi Arabian supplies fell sharply by 41 percent due to continuing disruptions linked to the Strait of Hormuz situation.
Venezuela, US And Brazil Supplies Increase
India also increased crude purchases from Venezuela, the United States, Brazil, Oman and Angola as refiners looked to diversify supply sources amid tensions in West Asia.
BPCL Raises Russian Crude Imports To 41%, Company Secures Oil Supply Till July 2026Venezuela became the fourth-largest supplier with 303,000 bpd. Imports from Brazil rose 5.3 percent to 290,000 bpd, while US crude imports jumped 107 percent to 209,000 bpd.
Analysts said Venezuelan crude remains attractive for Indian refiners because it is cheaper and suitable for complex refineries. The crude is also less exposed to disruptions in the Middle East.
China Demand Weakness Helps Asian Buyers
According to Kpler, lower crude demand from China released additional oil supplies into Asian markets. This helped refiners in India, South Korea and Southeast Asia secure more cargoes and avoid a bigger refining supply squeeze.
Kpler also warned that if Chinese demand recovers quickly, crude supplies in Asia could tighten again while Strait of Hormuz disruptions remain unresolved.