August projections indicate a drop to 2 million barrels per day, a stabilization point expected to persist in the near term. This pullback stems from a dual pressure: persistent Ukrainian drone strikes targeting Russian export infrastructure and aggressive purchasing by China, which has successfully diverted cheaper Russian supply away from Indian refiners.
Russian Oil Flows to India Retreat from Record Peaks
After hitting an unprecedented 2.8 million barrels per day in July, India’s intake of Russian crude is cooling. Supply constraints and shifting market dynamics are forcing New Delhi to look toward West Africa and the Americas to secure its energy needs as regional competition for Moscow’s barrels intensifies.
State-controlled refiners in India are responding by diversifying their procurement strategies. With the Middle East crisis complicating transit through the Strait of Hormuz and squeezing term delivery reliability, these firms are increasingly active in the spot market. This search for stable supply has shifted focus toward crude shipments from West Africa and the Americas, ensuring that India’s rising domestic demand remains met despite the tightening Russian export capacity.
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