India Seeks Weekly Russian Oil Data Amid US Trade Deal Pressure; Imports to Drop?

India
M
Moneycontrol•03-01-2026, 10:10
India Seeks Weekly Russian Oil Data Amid US Trade Deal Pressure; Imports to Drop?
- •Indian government demands weekly data on Russian and US crude oil imports from refineries.
- •Move linked to ongoing India-US trade deal talks, aiming to strengthen India's negotiation stance.
- •India may reduce Russian oil imports below 1 million bpd to appease the US, which previously imposed tariffs.
- •Russian oil imports already fell to 1.2 million bpd in Dec 2025, a 40% drop from June's peak.
- •India is increasing US oil and gas purchases to reduce trade deficit and as an alternative to Russia.
Why It Matters: India is strategically adjusting its oil import strategy to secure a US trade deal and manage energy security.
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