NewsSignals AI analysis·Reuters·
India's Mideast oil imports return to pre-war levels in September
Grade Bbullish AI signal$BRENT$WTI
India's Middle Eastern crude imports rebounded to around 2.8 million barrels per day in September, returning to pre-war levels as Gulf shipments recovered and refiners shifted away from Russian oil.
Middle Eastern crude accounted for about 54% of India's oil imports, while Russian shipments fell 14% month-on-month to 1.8 million barrels per day as price discounts narrowed.
Continued recovery in Gulf supplies could support Middle Eastern crude demand while intensifying competition for Russian oil in India's refining market.
Bullish strength: 60/100
- India's Middle Eastern crude imports rose to approximately 2.8 million barrels per day, the highest since February.
- Middle Eastern producers increased shipments through the Strait of Hormuz, easing supply constraints.
- Indian refiners are favoring discounted Middle Eastern crude as Russian oil's price advantage narrows.
Bearish strength: 40/100
- Russian crude imports into India fell about 14% month-on-month to 1.8 million barrels per day.
- Russia's share of India's oil purchases declined from 46.6% in August to 33.5% in September.
- Recovering Gulf supplies and increased competition with China could keep Russian oil purchases by Indian refiners subdued.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.