India’s crude oil basket has evolved from dominant dependence on West Asia to a more diversified mix, influenced by geopolitics, sanctions, price dynamics, and refinery flexibility. The decline of Iranian supplies due to sanctions, the rise of U.S. and African crude, and especially the rapid increase in discounted Russian oil since 2022 have reshaped India’s sourcing pattern. Today, India imports nearly 85% of its crude requirement, with Russia emerging as a leading supplier alongside Middle Eastern producers, reflecting a strategy focused on cost efficiency, energy security, and diplomatic balancing.
Click to View MoreIndia's energy dependence on imported oil and gas poses a national security risk. To enhance energy security, India should diversify sources, secure minerals, unlock indigenous energy, expand biofuels, strengthen nuclear energy, and promote research and innovation.
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