Monday, 28 September 2026Updated 13m ago
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Market move▼ Bearish for Indian Oil

Indian refiners buy costly West Asian barrels as Russian supply narrows

1 source · first seen 19:29 28 Sept · updated 19:29 28 Sept

The brief

Written from 1 report · check the source before you trade
  • Russian arrivals eased to around 1.75 mb/d in September, the lowest since April 2026
  • Indian refiners bought costly West Asian barrels as Russian supply narrowed
  • Higher-cost crude may squeeze margins at Indian refiners including IOC, BPCL and HPCL

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Russian oil10 todayCrude oil125 todayRefining margins7 todayOil and gas companies17 todayRussia16 todayIndian Oil₹133.32 · 11 todayBPCL₹302.25 · 4 todayHPCL₹342.45 · 3 today

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Part of a developing story10 updates over 4 days

India’s Russian oil exposure and supply shift

US tariff pressure over Russian oil put India in focus as the US-China trade truce was extended; replacing 1 million barrels per day of Russian crude could cost India up to $3.7 billion annually. Russian supplies had helped cushion disruptions, but September imports fell to a five-month low as refiners diversified and sought alternatives.

Monday, 28 September

  1. You are here
    Indian refiners buy costly West Asian barrels as Russian supply narrows
  2. India has ‘insulated' itself from the 'turbulence' of crude supply shock: Hardeep Singh Puri
  3. 3 sources
    India's Russian crude imports fall to five-month low as refiners diversify supplies
  4. Russian oil supply to India tightens on reduced exports, strong Chinese demand

Sunday, 27 September

  1. Russian crude supplies enabled India to cushion against oil supply shocks caused by West Asian war: Deputy FM
  2. Russian crude cushioned India from oil shock, says Andrey Rudenko

Friday, 25 September

  1. India to hold firm on Russian oil as US-China truce extension puts it in the spotlight

See all 10 updates →

Read the reports

1 report · earliest 19:29
Business LineIndian refiners buy costly West Asian barrels as Russian supply narrows19:29