SunSirs: India's Crude Oil Imports Plummet by 38%
December 11 2025 10:57:09 SunSirs (Selena)
According to the Hindu newspaper, India's oil imports from Russia will decrease by 38% in October 2025 compared to last year, and the import volume will decrease by 31%, due to a higher base in the same period last year and a decrease in India's total oil imports. The latest official data from the Indian Ministry of Commerce and Industry shows that India imported crude oil worth $3.55 billion from Russia in October 2025, lower than the historical high of $5.8 billion set in October 2024. This is the largest monthly decline in the value of oil imported by India from Russia.
India's imports of crude oil from Russia decreased by 38% in value and 31% in volume, marking the largest decline in a single month. This indicates a weakened global demand or oversupply, putting significant pressure on spot crude oil prices. Based on the recent trend of major crude oil futures contracts, if prices continue to decline, this news will strengthen market bearish expectations and may further pressure futures prices.
As a downstream product of crude oil, the decline in crude oil prices will reduce its production costs, indirectly leading to a downward risk in the spot price of fuel oil. Considering the recent performance of the fuel oil futures market, if contract prices are weak, the news of reduced demand may exacerbate bearish sentiment and affect futures trends.
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