Crude import bill down 17% to $50-bn in April-August

India’s crude import bill declined by 17% to $50.4 billion in the first five months of FY26, compared with $60.7 billion in the year-ago period, according to data from the government’s petroleum planning and analysis cell.

The country imported 101.1 million tonnes of crude oil during April to August, marginally down from 101.9 million tonnes in the same period of previous fiscal. India’s reliance on crude oil imports increased to 80.2% during the period, up from 79.8% in April-August of 2024, amid rising demand. While the dependency increased, the country’s domestic production of oil declined by 2% during Apr-Aug at 11.9 million tonnes.