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Russian Oil Poised to Reclaim Top Position in India Following February Decline
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Russian Oil Set to Reclaim Top Spot in India After February Dip
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CNBC TV18
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20-03-2026, 18:28
Russian Oil Set to Reclaim Top Spot in India After February Dip
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Russian oil imports to India are expected to rebound in March after a dip in February, potentially reaching 2-2.2 million bpd.
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Iraq briefly surpassed Russia as India's largest oil supplier in February, with imports reaching 1.18 million bpd.
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India's Russian oil intake fell 32% year-on-year in February to about 1 million bpd, nearly half of June's peak.
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The share of Middle Eastern oil in India's total imports rose to nearly 59% in February, the highest since August 2022.
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India's reliance on Middle Eastern oil has reportedly declined amid supply disruptions, with 70% now from other sources.
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