OPEC crude oil accounted for the highest share of India's imports in 11 months during December, as Russian shipments dropped to their lowest level in two years following new U.S. sanctions.
Trade data cited by Reuters shows OPEC's share increased to 53.25% of total Indian imports. Russian oil flows declined by 22% to 1.38 million barrels per day, representing 27.4% of India's oil imports.
A significant portion of this drop stemmed from Reliance Industries halting purchases from sanctioned Rosneft, a company with which it holds a long-term supply agreement.
Despite the decline, Russia remained India's largest individual crude supplier for the month. Iraq ranked second, and Saudi Arabia was third, as Indian state-owned oil companies shifted to buying from non-sanctioned Russian firms.
Kpler analyst Sumit Ritola, quoted by Reuters, stated Russian oil flows to India are likely to stay relatively strong, ranging between 1.2 million and 1.4 million barrels per day.
Data for the full year 2025 indicates OPEC's share of Indian imports edged up from 49% the previous year to 50%, while Russia's share decreased from 36% in 2024 to 33%.
A report this week from the Finland-based Centre for Research on Energy and Clean Air noted Russian oil flows to India fell 29% month-on-month in December. Exports to China, however, rose 23% compared to November.
CREA's report highlighted that December exports to China drove an 11% increase in total Russian exports, even as shipments to India hit their lowest point since the G7 imposed a price cap on Russian oil insured by Western companies.
The observed decline was less severe than a Bloomberg prediction, which had suggested Russian flows to India could plummet to just 800,000 barrels per day in December due to the new sanctions.