Key takeaways: India's crude oil import data Q1 2026
- Iraq leads India's crude oil import by country at US$3.21 billion (19.89% share) in Q1 2026, followed by Russia (17.92%), Saudi Arabia (16.03%), UAE (11.00%), and New Zealand (6.95%) per TradeInt's India Import Data and Bill of Lading database under HS 270900.
- Middle East supplies anchor the india import of oil by country basket, with Iraq, Saudi Arabia, UAE, and Kuwait collectively reaching ~59% of February 2026 inflows per Vortexa data cited by CSIS, as India rebalances toward Gulf supply.
- Q1 2026 crude oil flows ran at US$16.14 billion for January-February under HS 270900, with India sourcing crude from approximately 40 countries per PPAC and the IEA forecasting India as the largest source of global oil demand growth through 2030.
India imports crude oil from which countries? Q1 2026 top country list
India mainly imports crude oil from Iraq, valued at US$3.21 billion (19.89% share), Russia at US$2.89 billion (17.92%), and Saudi Arabia at US$2.59 billion (16.03%) in Q1 2026, according to TradeInt's India Import Data under HS 270900.
Which countries does India import crude oil from in Q1/2026?
- Iraq - US$3.21 billion (19.89%): Holds the largest single-country value share of India's crude oil basket, anchored by state-owned SOMO allocations to Indian refiners.
- Russia - US$2.89 billion (17.92%): Trades at price discounts to Middle Eastern benchmarks, drawing structural demand from Indian refiners through UAE-based trading intermediaries.
- Saudi Arabia - US$2.59 billion (16.03%): Backed by direct sovereign term supply agreements between Saudi Aramco and Indian state refiners under multi-year contracts.
- United Arab Emirates - US$1.78 billion (11.00%): Combines ADNOC term-contract Murban crude with active spot procurement through Singapore-based global trading houses.
- New Zealand - US$1.12 billion (6.95%): Single-supplier flow tied entirely to Reliance Industries' private refinery procurement of low-sulfur sweet crude grades.
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Crude oil imports trace the corridor from Iraqi SOMO state allocations to UAE free-zone traders, Singapore commercial desks, and Reliance's direct sourcing channels. Browse merchant-level shipment activity across verified Indian buyer or importer.
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Top 1 - Iraq: US$3.21 billion
According to TradeInt's customs records, Iraq's crude oil exports to India in Q1 2026 are dominated by SOMO (Iraq's state oil enterprise) (58.58%), with Reliance International Limited(14.02%) and Oil Marketing Company (11.93%).
Top 5 suppliers for India-Iraq crude oil flows (Q1 2026):
- SOMO (58.58%): Dominates the corridor through direct state allocation, the largest single-supplier flow across India's entire crude oil basket.
- RELIANCE INTERNATIONAL LIMITED (14.02%): Reflects Reliance Industries' direct sourcing pipeline for its Jamnagar refinery complex, the world's largest single-location refining hub.
- OIL MARKETING COMPANY (11.93%): Functions as an independent commercial broker bridging Iraqi state cargoes with Indian state refiner contracts.
- VITOL ASIA PTE LTD (8.42%): Singapore-based regional arm of Vitol Group, leveraging spot-market positions to fulfill Indian refinery demand.
- OIL MARKETING COMPANY SOMO (4.42%): Joint channel routing of Iraqi state allocations under structured commercial frameworks.
India's crude oil purchases from Iraq dropped sharply through 2026 amid Middle East supply disruptions. Shafaq News reported an 84% reduction in Iraqi shipments, with flows hitting zero in March and April 2026 before partially recovering to around 41,000 barrels per day in May, down from pre-disruption levels of 200,000 to 300,000 bpd.
Here are some market highlights shaping India-Iraq crude oil flows:
- Strait of Hormuz disruption: Roughly 95% of Iraq's oil exports transit the Strait of Hormuz, which has remained largely restricted since late February 2026, directly cutting flows to Indian refiners.
- Diversification response: Indian refiners have shifted toward higher purchases from Latin America and Africa to compensate, including Venezuela, Brazil, Angola, and Nigeria, all of which appear in India's top 10 crude oil import partners.
Top 2 - Russia: US$2.89 billion
Russia's crude oil supply to India in Q1 2026 routes primarily through UAE-based trading intermediaries, led by SUNDARAH INTEGRATED FZ LLC (28.39%), ORVENTO CORPORATION FZE (20.05%), and VISTULA DELTA GLOBAL FZE (12.93%), as captured in TradeInt's Q1 2026 dataset.
Top 5 suppliers for India-Russia crude oil flows (Q1 2026):
- SUNDARAH INTEGRATED FZ LLC (28.39%): Leading UAE free-zone trading entity managing the largest single channel of Russian crude into India.
- ORVENTO CORPORATION FZE (20.05%): Offshore trading vehicle coordinating bulk Russian crude logistics through Middle East transshipment networks.
- VISTULA DELTA GLOBAL FZE (12.93%): Maritime logistics specialist arranging vessel charters and routing for Russian energy cargoes destined for Indian ports.
- GALLANT PETROLEUM FZCO (11.34%): Free-zone commercial entity executing spot-market contracts for Russian crude volumes.
- VESPERA TRADING FZCO (8.90%): Specialised commodity operator coordinating financing and vessel allocations for physical oil corridors into Indian refineries.
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📈 Russia Is The #2nd Largest Crude Oil Producer In 2025, per TradeInt's Trade Data
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Read more: Who is the Largest Crude Oil Producer in 2025?
Russia's share of India's crude oil imports climbed to an 11-month high in April 2026. The Hindu reported that Russia accounted for nearly 38% of the value of India's crude oil imports in April, with volumes reaching 67 lakh tonnes (a 27% rise from March) and accounting for 34.3% of total crude imports by volume.
Three points worth noting about India-Russia crude oil flows:
- Premium reversal: India paid an average of US$864.9 per tonne for Russian crude in April 2026 vs US$787.1 per tonne for the overall import basket, a premium of US$77.8 per tonne compared with just US$14.8 in March, a 425% jump.
- Discount-to-premium shift: Russian crude has moved from a discount source to a premium-priced supplier as Middle East alternatives faced Strait of Hormuz disruption, reshaping the cost dynamics that originally drove Indian demand.
Top 3 - Saudi Arabia: US$2.59 billion
Saudi Arabia's crude oil flows to India in Q1 2026 are anchored by direct Aramco channels, with Saudi Arabian Oil Company (53.33%), Saudi Aramco (18.28%), and Reliance International Limited (16.33%) forming the top 3 supplier channels, from TradeInt's India trade database.
Top 5 suppliers for India-Saudi Arabia crude oil flows (Q1 2026):
- SAUDI ARABIAN OIL COMPANY (53.33%): Primary Aramco channel delivering term-contract crude under multi-year sovereign supply agreements with Indian state refiners.
- SAUDI ARAMCO (18.28%): Secondary Aramco distribution channel managing specific cargo allocations across Indian refining buyers.
- RELIANCE INTERNATIONAL LIMITED (16.33%): Reliance Industries' trading arm sourcing Saudi crude for Jamnagar refinery feedstock balancing.
- SAUDI ARABIAN OIL CO (2.85%): Aramco distribution subsidiary handles specialised cargo movements for Indian customers.
- M S SAUDI ARAMCO (2.56%): Aramco trading arm manages premium cargo allocations across Indian refining buyers.
Saudi crude flows to India remained anchored by direct Aramco term contracts even as the broader regional market shifted. The Diplomat's March 2026 analysis noted that Indian state refiners maintained Saudi supply commitments throughout the Middle East disruption, with Aramco volumes proving among the most stable in India's crude basket.
A few notable patterns in the India-Saudi Arabia crude oil trade:
- Stable through disruption: Saudi supply held steadier than Iraqi flows during the Strait of Hormuz constraints, reflecting Aramco's commitment to honour Asian term contracts.
- Strategic reserve role: Saudi crude features in India's strategic petroleum reserve restocking activity, extending the trade relationship beyond pure refinery feedstock supply.
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🌍 Saudi Arabia Exports US$38.7 billion Crude Oil In 2025, #1 in the Middle East, analysis by TradeInt
According to TradeInt's global trade data, the Middle East's top exports in 2025 are Mineral Fuels and Oils valued at US$114.03 billion, exported mainly by Saudi Arabia, Iraq, and the UAE, supplying crude oil to major global energy markets.
Read more: Middle East's Top Crude Oil Exporting Countries
Top 4 - UAE: US$1.78 billion
UAE crude oil exports to India in Q1 2026 are anchored by Abu Dhabi National Oil Company (24.71%), followed by BP Singapore Pte Ltd (15.29%) and Mercuria Energy (7.77%) as Singapore-based global traders extend ADNOC's direct supply.
Top 5 suppliers for India-UAE crude oil flows (Q1 2026):
- ABU DHABI NATIONAL OIL COMPANY (24.71%): ADNOC, the UAE state oil producer, directly markets its flagship Murban crude through term contracts with Indian refiners.
- BP SINGAPORE PTE LTD (15.29%): Singapore commercial hub for BP, allocating global crude portfolios, including UAE-sourced volumes to Indian refiners.
- MERCURIA ENERGY (7.77%): Independent global trading firm specialising in spot crude positioning and short-cycle Indian refinery procurement.
- VITOL (7.55%): Global energy trading group routing UAE cargoes through optimised maritime logistics into Indian ports.
- GLENCORE SINGAPORE PTE LTD (7.43%): Multinational commodities trading arm managing physical UAE crude flows alongside diversified supply portfolios.
India's UAE crude oil flow runs almost entirely through the Strait of Hormuz, which carried roughly 20% of global daily oil supply before the 2026 conflict. Atlantic Council analysis identified India's January 2026 launch of its first Very Large Crude Carrier (VLCC) terminal at Mundra port as a structural response to manage non-Hormuz supply alternatives.
Patterns shaping India-UAE crude oil flows:
- Chokepoint dependency: UAE cargoes share Hormuz transit risk with Iraqi, Saudi, and Kuwaiti supply, pushing India to expand port capacity for non-Hormuz routing.
- VLCC port investment: Mundra port's new VLCC terminal, launched January 2026, expands India's west coast capacity to receive very large crude carriers from longer-haul origins, reducing chokepoint exposure.
Top 5 - New Zealand: US$1.12 billion
New Zealand's crude oil flow to India in Q1 2026 runs entirely through Reliance International Limited, according to TradeInt's customs records. The single-supplier concentration reflects a structured private-refiner procurement arrangement rather than a diversified commercial market.
India crude oil import market analysis (2025 - 2026)
India imported approximately US$16.14 billion worth of crude oil in January and February 2026 under HS 270900, powered by TradeInt's market trend records. Across full-year 2025, India's crude oil imports totalled approximately US$130.38 billion, with the country remaining the world's third-largest crude oil importer behind China and the United States.
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India ranks as the world's 3rd-largest crude oil importer, sourcing from approximately 40 countries per PPAC. The India trade page summarises top trade partners, leading HS categories, monthly trade values, and balance of trade trends.
Check out: India's past import and export trade summary
The QoQ pattern across 2025-2026 reflects four overlapping forces.
First, the Petroleum Planning and Analysis Cell (PPAC) under India's Ministry of Petroleum confirms India's crude oil import sources expanded to roughly 40 countries by 2026, up from 27 in 2006-07, broadening supply security.
Second, the share of crude oil imports from the United States rose from 4.6% in April-December FY25 to 8.1% in April-December FY26 per India's Economic Survey, reflecting active diversification away from concentrated Middle Eastern and Russian supply.
Third, the IEA's outlook on India's oil market projects India will become the largest source of global oil demand growth between now and 2030, with continued investment in refining capacity supporting structural import demand even as biofuel blending rises.
Conclusion
India's crude oil import market in Q1 2026 reached US$16.14 billion across January and February under HS 270900, with the top 3 origins supplying a combined 53.84% of total value: Iraq (US$3.21B, 19.89%), Russia (US$2.89B, 17.92%), and Saudi Arabia (US$2.59B, 16.03%).
Iraq retook the top supplier position from Russia in February 2026, while the UAE and Reliance-driven New Zealand flows complete the top 5 of india import of oil by country rankings. Underneath these flows, India sources crude from approximately 40 countries per PPAC, and IEA forecasts that India as the leading driver of global oil demand growth through 2030.
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Frequently asked questions
Where does India import crude oil from?
India imports crude oil from approximately 40 countries per PPAC, with the top 5 being Iraq (US$3.21 billion, 19.89%), Russia (US$2.89 billion, 17.92%), Saudi Arabia (US$2.59 billion, 16.03%), UAE (US$1.78 billion, 11.00%), and New Zealand (US$1.12 billion, 6.95%) in Q1 2026, powered by TradeInt's data.
Who is the largest crude oil supplier to India?
According to TradeInt's India trade insights, Iraq is the largest crude oil supplier to India at US$3.21 billion (19.89% share) in Q1 2026, with state-owned SOMO leading the supplier corridor.
Which country exports the most crude oil to India?
Iraq exports the most crude oil to India at US$3.21 billion (19.89%) in Q1 2026, as stated by TradeInt's India Import Data, followed by Russia (17.92%), Saudi Arabia (16.03%), and the UAE (11.00%). The top 4 Gulf and Russia origins together supply over 64% of India's inbound crude value.
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