{"id":9875,"date":"2026-08-07T22:55:11","date_gmt":"2026-08-07T22:55:11","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=9875"},"modified":"2026-08-07T22:55:11","modified_gmt":"2026-08-07T22:55:11","slug":"indias-crude-import-bill-up-26-in-26-27-q1-despite-18-volume-fall-india-news","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=9875","title":{"rendered":"India\u2019s crude import bill up 26% in \u201926-27 Q1 despite 18% volume fall | India News"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133044130,imgsize-61260,width-400,height-225,resizemode-4\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg\" alt=\"India\u2019s crude import bill up 26% in \u201926-27 Q1 despite 18% volume fall\" title=\"Russia, India's biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Russia, India's biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne\">Russia, India&#8217;s biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>NEW DELHI: India&#8217;s crude import bill rose 26% year-on-year in the first quarter of 2026-27, despite volumes falling 18%, as the West Asia conflict disrupted supplies and pushed up oil prices.<span class=\"id-r-component br\" data-pos=\"2\"\/>Commerce department data showed India imported 59.7 million tonnes (MT) of crude between April and June this year, down from 73 MT in the corresponding period last fiscal. Import bill, however, rose to $49 billion from $39 billion in April-June 2025.<span class=\"id-r-component br\" data-pos=\"4\"\/>India is the world&#8217;s third-largest crude importer, with imports meeting 88% of annual consumption. Global oil prices, which were below $70 per barrel before the US-Iran conflict broke out in Feb, surged after shipments through the Strait of Hormuz &#8211; which handles a fifth of global oil transit &#8211; were disrupted. <!-- -->Around 40% of India&#8217;s crude imports came through the strait from West Asian suppliers. Brent crude touched nearly $120 per barrel at the conflict&#8217;s peak.<!-- --> The weakening rupee also added to the import bill.<span class=\"id-r-component br\" data-pos=\"10\"\/>Since India imports 1.8-2 billion barrels of crude a year, every $1-per-barrel increase in oil prices can add up to $2 billion to its oil import bill.<\/p>\n<div class=\"LEzX4\">\n<div class=\"PmOGb\">\n<p class=\"PSf84\">Share your thoughts in the comments<\/p>\n<\/div>\n<p><button type=\"button\" class=\"sUTYm \">Insightful<\/button><button type=\"button\" class=\"sUTYm \">Agree<\/button><button type=\"button\" class=\"sUTYm \">Disagree<\/button><button type=\"button\" class=\"sUTYm \">Skeptical<\/button><button type=\"button\" class=\"sUTYm \">Concerning<\/button><button type=\"button\" class=\"sUTYm \">Promising<\/button><button type=\"button\" class=\"sUTYm \">Worth Reading<\/button><button type=\"button\" class=\"sUTYm \">Big Development<\/button><\/p>\n<p><textarea class=\"T9MbS\" rows=\"1\" placeholder=\"Add your Thoughts...\"\/><button type=\"button\" class=\"ZW6JD \" disabled=\"\">Post Comment<\/button><\/p>\n<p class=\"swnca\">Be respectful \u00b7 <a href=\"https:\/\/www.indiatimes.com\/termsandcondition\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"gkv0P\">TOI community guidelines<\/a><\/p>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"13\"\/>Average cost of crude sourced from different countries varied, partly because of differences in freight, insurance and war-risk premiums. Russia, India&#8217;s biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne.<span class=\"id-r-component br\" data-pos=\"17\"\/>&#8220;Our priority at that time was to secure supplies from wherever possible to ensure energy security for 1.4 billion people,&#8221; said an executive of a state-run refining company, adding that discounts available before the conflict had disappeared and refiners were forced to pay hefty war-risk premiums.<span class=\"id-r-component br\" data-pos=\"19\"\/>Russia remained India&#8217;s top crude supplier in the first quarter of FY27, accounting for more than 40% of imports. UAE (14.6%), Saudi Arabia (9.9%), Venezuela (5.2%) and Oman (4.5%) were the other major suppliers.<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/india\/indias-crude-import-bill-up-26-in-26-27-q1-despite-18-volume-fall\/articleshow\/133044129.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia, India&#8217;s biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne NEW DELHI: India&#8217;s crude import bill rose 26% year-on-year in the first quarter of 2026-27, despite volumes falling 18%, as the West Asia conflict disrupted supplies and pushed up oil prices.Commerce [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-9875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/seepco-supplies-6-million-barrels-of-nigerian-crude-to-indian-refiners.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Russia, India&#8217;s biggest supplier during the quarter, supplied crude at an average cost of $2,408 per tonne, while UAE crude cost $2,213 per tonne NEW DELHI: India&#8217;s crude import bill rose 26% year-on-year in the first quarter of 2026-27, despite volumes falling 18%, as the West Asia conflict disrupted supplies and pushed up oil prices.Commerce [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 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