2025-08-26Niranjan Ghatule
India’s crude oil imports dropped to an 18-month low of 18.56 MMT in July 2025, falling 8.7% month-on-month and 4.3% year-on-year. Lower demand, falling global crude prices, U.S. tariffs, and reduced Russian discounts are reshaping India’s energy strategy. The decline has eased the oil import bill but raised long-term energy security concerns.
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