Crude oil imports: Russia, US, UAE supply record 66.85% in August 2026
Why in the news
Trade data for August 2026, reported on 15-16 October, showed that just three countries – Russia, the United States and the UAE – supplied about two-thirds of India’s oil imports, the highest concentration on record.
Key facts
- Combined share: 66.85% of import volume and 67.8% of the oil import bill.
- Total imports: 191.2 lakh tonnes, 10.3% lower than July but 3.4% higher than August 2025.
- Import bill: $12.2 billion, nearly 25% higher year-on-year; average price about $640 per tonne.
- Russia: still the largest supplier, but its volume fell 23% from July and its share slipped from a historic high of 51%.
- United States: volume jumped nearly 82% over July and more than 130% over August 2025; its oil cost about $810.6 per tonne, well above the average.
- UAE: supplies grew as both countries used alternate routes through ports less hit by the West Asia war.
Supplier snapshot (August 2026)
| Country | Volume (lakh tonnes) | Share of volume |
|---|---|---|
| Russia | 84.8 | 44.3% |
| UAE | 33 | 17.4% |
| United States | 9.7 | 5.1% |
| Total (all sources) | 191.2 | 100% |
About the context
India imports most of the crude oil it uses, so the mix of suppliers matters for energy security. In September 2026 the US President signed a law that could put tariffs of up to 100% on countries buying large amounts of Russian oil and gas, a measure that could affect India.
Exam angle
- Top three suppliers: Russia, UAE, US (by volume) in August 2026.
- Russia’s share: 44.3% in August vs 51% in July.
- Heavy dependence on a few sources raises supply and price risks.