Saudi Arabia has reclaimed its position as India’s leading crude oil supplier in February 2026, overtaking Russia. This shift comes after a new trade agreement between India and the United States. Recent data shows a significant drop in Russian imports as India diversifies its energy sources to balance global diplomatic pressures and market costs.
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Changes in India Crude Oil Import Figures
The latest shipping data for the first half of February 2026 reveals a significant change in India’s energy sourcing. Saudi Arabia’s supply to India increased to an average of 1.13 million barrels per day (bpd). At the same time, imports from Russia fell to 1.09 million bpd. This is a sharp reversal from January 2026, when Russia was the top supplier with 1.14 million bpd.
| Supplier Country | January 2026 (bpd) | February 2026 (bpd) |
|---|---|---|
| Saudi Arabia | 774,000 | 1.13 million |
| Russia | 1.14 million | 1.09 million |
Russia’s market share in India fell to 21.2 percent in January, which is the lowest level since October 2022. Analysts from firms like Kpler and Vortexa expect Russian imports to drop further to 800,000 bpd by March 2026. While India reduces its Russian intake, China has become the largest buyer of Russian sea-borne crude, importing over 2 million bpd.
Reasons for the Shift in Energy Imports
The primary reason for this change is the India-US Interim Trade Framework finalized on February 2, 2026. As part of this deal, the United States reduced tariffs on Indian goods from 25 percent to 18 percent. Reports from the White House suggest that India committed to reducing Russian oil purchases and increasing imports from the US and Venezuela as part of this understanding. Major companies like Reliance Industries are already shifting their focus toward these alternative sources.
- Saudi Strategy: Saudi Aramco cut its official selling price and removed a 30-cent per barrel premium to stay competitive.
- US Pressure: Increased scrutiny and sanctions on Russian shipping have made Russian crude less attractive for Indian refiners.
- Alternative Sources: Petroleum Minister Hardeep Singh Puri stated that India is prepared with sources like Guyana, Brazil, and Canada.
The Ministry of External Affairs has maintained that India’s energy security remains the top priority. Minister S. Jaishankar emphasized that energy decisions are based on national interest and strategic autonomy. For the common man, this shift is important because the loss of discounts previously offered on Russian oil could impact domestic fuel prices and government subsidy budgets in the coming months.
