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India's Crude Oil Import Bill Soars 26% Amid Volume Drop
India's crude oil import bill jumped 26% to $49 billion in Q1 2026-27, despite an 18% decrease in volumes. Rising global oil prices, driven by conflicts, have significantly impacted costs. Russia remains India's top supplier, providing over 40% of imports, while refiners face high war-risk premiums to secure energy supplies.
βοΈ AI Verdict
"When oil prices rise, wallets feel the pinch, but at least Russia is still in the mix!"
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File ID: #320068Original Source: Times Of India β
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