India's September crude oil imports jump over 16% month-on-month

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Imports of oil products fell 0.8% in September from August, but were down ‌about 40% from a year earlier

By Reuters

Updated - October 23, 2026 at 02:55 PM.

India's crude oil imports rose more than 16 per cent in September from the previous month to 22.26 ​million metric tonne, government data showed on Friday. On an annual ‌basis, crude oil imports were up 9 per cent from ​20.35 million tonne in September last year, ⁠data from the Petroleum Planning and Analysis Cell showed.

Imports of oil products fell 0.8 per cent in September from August, but were down ‌about 40 per cent from a year earlier. Product exports were up more than 6 per cent to 5.22 ‌million tonne annually.

"The increase in imports has been ‌largely ⁠driven by the return of Middle Eastern barrels ⁠and lower Russian volumes, reflecting a normalisation of India’s crude slate as Gulf supply availability recovers," said Giovanni Staunovo, an analyst at UBS.

India's ​Russian oil imports in ‌September declined 13.7 per cent from August to about 1.8 million barrels per day, accounting for about a third of overall purchases, data obtained from trade sources showed on Thursday.

India's fuel consumption in September rose 3.9 per cent from August ​to 19.26 million metric tonne, according to data from earlier this month.

LPG imports rose ⁠to 1.40 million tonne in September from 1.30 million tonne in August, while fuel oil imports slumped nearly 99 per cent year-on-year ‌to 0.01 million tonne in September from 0.69 million tonne a year earlier.

Jet fuel exports rose 32.5 per cent month-on-month to 0.53 million tonne.

India cut windfall taxes on exports of diesel and aviation turbine fuel from October 1. The government reintroduced the tax in March 2026 ‌after crude prices jumped during the US-Israeli war on Iran.

Petrol ​exports last month were 49 per cent lower year-on-year and diesel exports were down nearly 27 per cent for the ⁠same period

Published on October 23, 2026

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