• Super Admin
• 07 Mar, 2026

As global prices surge, Russia has emerged as India's primary supplier. However, following trade negotiations with the U.S., it remains to be seen how much Russian oil India can import under the limited waiver Ongoing war in the Gulf is creating a supply crunch of crude oil. This has lead to crude oil prices breaching $93 barrel mark in the international market. Amid the rising oil prices in the domestic market are also spiking fueling the inflation. As India is gearing up for the imports from other countries, specifically with Russia, we have a deeply analysed the crude oil prices of different analysis over crude oil prices cost from various. A month back, before the war India was strategically channeling its oil imports from Gulf countries and was also purchasing discounted Russian supplies. In early 2026, Russia remained India's largest single supplier, accounting for approximately 19-21% of total imports which totals to around 1.04 million barrels per day. However, this was a significant drop from its 2024 levels of 35-40% due to trade negotiations with US. The Gulf countries collectively provided about 50-55% of India's needs, with Iraq and Saudi Arabia as the dominant exporters. These countries supply roughly 1 million barrels per day. Other key contributors included the UAE which supplies around 10-12% and the United States which supplied 8%. A smaller quantity was also imported from Kuwait, Nigeria and Brazil. A blockade in the Gulf has cut off nearly 50% of India's oil imports. As global prices surge, Russia has emerged as India's primary supplier. However, following trade negotiations with the U.S., it remains to be seen how much Russian oil India can import under the limited waiver. While India must diversify its sources, alternative suppliers are unlikely to offer lower prices. While importing oil from other countries the quality of oil also needs to be considered. Founder of Global Trade Research initiative (GTRI) and international trade expert Ajay Srivastava said " Russian crude has become especially attractive in recent years. India imports grades such as Urals and ESPO, which are medium and relatively sour crudes with API gravities around 31-34 degrees. Because these grades require more complex refining but are often priced $10-20 a barrel below Brent, they fit well with Indian refinery configurations designed to capture value from discounted feedstock. While the US exports lighter shale grades such as WTI and Eagle Ford, which yield more gasoline and petrochemical feedstocks but are used more selectively because many Indian refineries are optimized for heavier crude." Importing oil from US, Gulf Coast or Brazil to Asia or Europe takes significantly longer when it is not shipped through Persian Gulf. For a country like India, this adds roughly $5-$8 per barrel in shipping costs alone. Also, due to the, marine insurance for any tanker even remotely near a "war zone" has jumped from $200,000 to nearly $1 million per voyage. These costs are passed directly to the buyer. Also, while importing oil from various countries this has to be seen which country has how much oil reserves to meet India's oil demand. Source: https://news24online.com/business/rising-crude-oil-prices-if-india-imports-oil-beyond-the-gulf-which-countrys-oil-will-cost-how-much/767565/