India's crude oil import costs have fallen below $70 per barrel, ... Latest Energy News. ... The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%.

India already meets 90% of its crude oil needs through imports, and about 50% of its gas also comes from abroad. If the decline in domestic production is not arrested, this dependence will ...

Higher imports of palm oil and soyoil lifted India's total vegetable oil imports in May by 33% from a month before to 1.19 million tons, the highest since December, it said.

Puri noted that while Russian oil imports had hit over 40 percent in May 2024, ... So India used to import from 27 countries. We are now importing from 40 countries," he said.

China's oil demand is expected to peak within 3–5 years, while India is set to lead global oil demand growth through 2030 due to rising consumption and infrastructure expansion.

India’s LNG imports this month are estimated to average 1.9 million tons, down 5 percent from the same month last year and the lowest monthly volume since December 2023, according to data ...

All four are heavily reliant on Gulf energy imports, with Japan and South Korea importing more than 70 percent of their crude oil through the Strait of Hormuz. India’s dependency is similarly ...