Archive · 22 May 2025
India's Russian Oil Imports Surge to 10-Month High
India is buying a lot more oil from Russia than usual, almost the most in 10 months!
They're getting a specific type of oil called ESPO Blend because it's available and refiners need it.
Indian companies are buying it.
Because of strong demand in India, the price of oil has increased.
They are also planning to buy more of this oil in June.
India's imports of Russian crude oil are set to reach nearly 1.8 million barrels per day in May.
The surge is driven by increased purchases of lighter grades like the ESPO Blend.
Indian refiners are responding to favorable market conditions.
Indian refiners booked over 10 ESPO cargoes for June loading.
ESPO spot premiums have recovered amid reduced Chinese demand.
- Who
- India and Russian suppliers
- What
- India's oil imports from Russia surge
- When
- May, with continued demand into July
- Where
- India and Russia
- Why
- Strong demand from Indian refiners and favorable market conditions
- May Imports
- Nearly 1.8 million barrels per day
- Crude Grade
- ESPO Blend
- Origin Port
- From Russia's Far East port of Kozmino
- Premium over Dubai Crude (India)
- 50 cents to USD 1 per barrel
- Premium over Dubai Crude (China)
- USD 2 per barrel
- Refiners with increased need
- Reliance Industries, MRPL
