New Delhi: India has significantly increased its oil imports from Russia and revived supply chains from Africa, Iran, and Venezuela to address a major shortage of crude from the Middle East. As the world’s third-largest oil consumer, India traditionally relies on the Strait of Hormuz for approximately half of its supply; however, recent regional tensions have severely restricted traffic through this vital waterway.

To mitigate the impact, Indian refiners imported nearly 1.98 million barrels per day (bpd) from Russia in March, a sharp increase over previous months. Additionally, imports from Angola surged to an average of 327,000 bpd, nearly triple the volume recorded in February. Emerging data also indicates the return of shipments from Iran and Venezuela, which averaged 276,000 bpd and 137,000 bpd respectively as of mid-April.

While these shifts have helped India avoid the severe petrol shortages seen in some neighbouring countries, analysts note that domestic supplies of cooking gas remain under pressure. Furthermore, experts suggest that alternative sources from Africa and South America may not fully replace Middle Eastern crude in the long term, as many Indian refineries are specifically configured for Middle Eastern grades.

The Indian government and state-owned oil firms continue to take measures to insulate the domestic market from high international prices and maintain energy security during the ongoing regional instability.

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