India’s Crude Oil Imports: U.S. Gains Ground, Iran Remains Out of Market

New Delhi, March 22, 2026

India, one of the world’s largest crude oil importers, continues to rely heavily on global suppliers to meet nearly 85–90% of its energy needs. Recent trends show a growing role of the United States in India’s oil basket, while imports from Iran remain virtually absent due to ongoing sanctions.

U.S. Oil Exports to India Rising

India currently imports approximately 200,000 to 350,000 barrels per day (bpd) of crude oil from the United States. In some periods, this has reached up to 350,000 bpd, reflecting stronger energy ties between the two countries.

The annual value of crude imports from the U.S. is estimated at around $5 billion, making it a significant, though not top, supplier for India. Analysts say this increase is part of India’s strategy to diversify its energy sources.

Iran’s Share Drops to Zero

In contrast, India’s crude oil imports from Iran currently stand at zero due to U.S. sanctions. Before 2019, Iran was a key supplier, accounting for 5–10% of India’s total imports, equivalent to nearly 300,000–500,000 bpd.

Who Benefits?

• United States: Gains billions of dollars annually and strengthens strategic ties with India.
• Iran: Faces major losses after losing a key buyer like India.

Bigger Picture

India’s major crude suppliers remain Russia, Iraq, and Saudi Arabia. The U.S. serves as an important alternative supplier, while Iran remains a potential option if geopolitical conditions improve.

Future Outlook

Rising tensions in the Middle East could disrupt global supply chains and push oil prices higher, increasing India’s import bill and impacting inflation.

Conclusion: The United States is emerging as a key partner in India’s energy security, while Iran’s absence highlights the impact of geopolitical tensions on global trade.