OPEC Oil Gains Ground in India as Russian Imports Drop

Sanctions Shift India’s Crude Mix as OPEC Regains Market Share

Written by: Supriya Kadu

Edited by: Rajan Mhatre

Last Updated: January 16, 2026

Summary: India's oil imports from Russia decreased in December, which raised OPEC's share of imports.

India’s crude oil buying patterns shifted noticeably in December 2025, as imports from Russia slumped and supplies from OPEC members took a bigger slice of the country’s overall oil mix, according to recent trade data.

Industry figures show that Russia’s share of India’s oil imports slid to around 27.4% in December — the lowest level in roughly two years — as refiners slowed purchases of Russian crude amid tighter U.S. and European sanctions on some of Moscow’s major oil producers. In contrast, OPEC countries boosted their share to about 53.2%, an 11-month high.

The overall volume of Russian oil arriving in India fell around 22% from the previous month as several major buyers, including private and state-owned refiners, reduced intake. Reliance Industries, one of India’s biggest purchasers of Russian crude, reportedly halted deliveries under its long-term deal with Rosneft in the last days of December, putting further pressure on volumes.

Despite the drop, Russia remained India’s largest single supplier of crude in December as well as for much of the current fiscal year, followed by key OPEC producers such as Iraq and Saudi Arabia. Analysts say the December slump likely reflects temporary supply and compliance issues rather than a permanent break with Russian oil.

The shift has broader implications for India’s energy mix and refinery margins. Russian crude has typically been attractive for Indian refiners because of deep discounts, which helped lower input costs in recent years. With those volumes sliding, refiners are increasingly turning to Middle Eastern and other sources to meet feedstock needs.

The government has also been closely monitoring these patterns and is pushing for more frequent reporting on crude purchases from Russia and other suppliers to better understand how global sanctions and market conditions are affecting India's import strategy.

Currently, analysts expect that imports from Russia will lower in early 2026, with OPEC suppliers making up a larger share of India's crude baskets – a major change for the world's third-largest oil importer.