India's crude oil import volumes surge 50% in FY27 first five months

India’s crude oil import expenditure rose 48% on a yearly basis to $74.8 billion during the April–August 2026 period, reflecting increased global price levels, while traded volumes demonstrated relative stability, data from the Petroleum Planning and Analysis Cell (PPAC) indicates. India’s oil imports totaled 100.7 million tonnes for April-August, compared with 101.1 million tonnes during the corresponding period of the prior year. In August, the import bill advanced 18% to $11.7 billion as volumes decreased by 3% to 19 million tonnes.