India Rejigs Crude Imports As Saudi Gains

26 Feb 2026 CW Team

India has adjusted its crude oil import mix as purchases from Saudi Arabia have risen while supplies from Russia have slowed. State refiners and private buyers have increased flows from Saudi Arabia to secure steady deliveries and to optimise refinery runs for higher middle distillate yield and to secure more favourable payment terms. The shift reflects a response to ongoing logistical constraints on Russian crude and the appeal of stable long term contracts and predictable shipments.

Market participants reported that purchases from Saudi suppliers have risen by about 20 per cent in recent weeks as buyers sought to replace some grades previously sourced from Russia. The rebalancing has led refiners to recalibrate processing schedules to handle the heavier Arabian grades that favour diesel and jet fuel output. Trade routes have adjusted with more shipments arriving at western and southern ports to smooth feedstock availability and to shore up buffer stocks.

Slower Russian deliveries were attributed by traders to prolonged loading delays, resource reallocation and seasonal maintenance, prompting buyers to diversify sources. Price differentials narrowed as demand for alternative barrels increased and freight costs responded to changing voyage patterns. Refining margins remained under pressure but were supported by steady domestic demand for transport fuels and petrochemical feedstocks.

Analysts expect India to maintain a flexible procurement strategy to safeguard energy security and to capitalise on competitive offers from multiple suppliers. The government and industry stakeholders are understood to be monitoring supply chains and inventory levels closely to prevent disruptions during peak demand periods. The market will continue to weigh geopolitical developments, freight rates and shipping dynamics as determinants of crude sourcing decisions.

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