India's crude imports fall 17% amid supply shock
New Delhi, May 15 -- In March, the first full month after the US and Israel launched an attack on Iran, India's crude oil imports declined 17.1% over March 2025, reflecting the disruption in the global energy supply chain caused by the conflict.
The decline in imports meant that despite a spike in global crude oil prices, India's total crude oil import bill fell by around 5% on an annualised basis in March, according to the latest government data.
India's crude oil imports bill fell from $12.3 billion in March 2025 to $11.7 billion in March 2025, a dip of 4.88%, according to provisional numbers released by oil ministry's data keeper Petroleum Planning and Analysis Cell. In terms of volume, they fell to 18.9 million metric tonnes (MMT) as co...
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