US Oil Imports to India Surge, Reshaping Energy Trade Dynamics

India's crude oil imports from the United States have doubled in February, marking a significant shift in the country's energy sourcing strategy. The average crude loading for India-bound ships at US ports increased to 0.2 million barrels per day (mbd), up from 0.11 mbd in January. This surge comes as India reduces its reliance on Russian oil due to recent US sanctions. The move aligns with India's commitment to increase energy purchases from the US to $25 billion, as discussed during the recent Trump-Modi meeting. Meanwhile, imports from Middle Eastern countries like Saudi Arabia and Iraq have also risen, offsetting the decline in Russian oil imports.
Source: The Economic Times