NEW DELHI, July 1. /TASS/. India's oil imports reached a record 4.93 million barrels per day (bpd) in June, with more than half of the total supplied by Russia, data from the analytics firm Kpler showed.

"India imported 4.93 million bpd of crude in June, the highest volume on record, despite heightened geopolitical tensions in the Middle East. At the same time, Russian crude imports climbed to around 2.6 million bpd, reaffirming Russia's position as India's largest and most important crude supplier," Kpler analyst Sumit Ritolia noted.

According to him, "over the past 100 days, India has been one of the best-positioned major importers, successfully maintaining crude inflows through proactive diversification and procurement strategies."

The expert pointed out that Indian refiners have already secured oil supplies for the first half of August. Since purchases are typically made one to two months in advance, this limits the need for immediate spot buying, even if geopolitical risks persist.

Looking ahead, Ritolia expects global oil supplies to remain ample, supported by increased exports from Africa, Russia, and Venezuela, rising OPEC+ production, and uninterrupted oil flows through the Strait of Hormuz. The recent decline in global oil prices, he said, indicates that markets have become less concerned about short-term supply disruptions.

India is the world's third-largest oil importer and consumer. The country meets more than 88% of its crude requirements through imports and has significantly scaled up its purchases of Russian oil since 2022.