New Delhi, May 20 -- India's oil trade deficit is expected to widen sharply in FY27 due to rising crude oil prices, weakening petroleum exports, and the country's continued dependence on imported crude, according to a report by CRISIL.

In its report titled 'Oil's not well', CRISIL said India remains heavily reliant on overseas crude supplies, with more than 85 percent of its annual crude oil requirement met through imports.

The report highlighted that India's crude oil imports have steadily increased from nearly 190 million tonnes in FY14 to over 300 million tonnes in FY26, while petroleum exports have remained relatively stagnant over the same period.

As a result, the country's oil trade deficit has started widening again after briefl...