India's Crude Imports from Oman Surge 646% in March Amid Disruption in Oil Flows from Iran

India's Crude Imports from Oman Surge Amid West Asia Conflict

India's crude imports from Oman soared by more than 646 percent year-on-year in March, signaling a possible shift in the country's crude sourcing strategy amidst the ongoing West Asia conflict. The sharp increase in imports from Oman to $545.72 million in March from $73.14 million a year earlier is evident from commerce ministry data.

The rise in imports from Oman is notable, given the country's location in the Gulf region, which is affected by the US-Iran conflict. Unlike major crude exporters deeper inside the Gulf, Oman occupies a relatively strategic position along Arabian Sea shipping routes, making Omani cargoes potentially easier to move during periods of disruption around the Strait of Hormuz.

In contrast to Oman, India's imports from several major suppliers plunged in March. Purchases from Iraq fell by 66.67 percent year-on-year, while imports from Saudi Arabia declined by 46.78 percent. Imports from the United States were also down by 43.65 percent during the month.

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Russia remained India's largest crude supplier in value terms in March at $3.25 billion, despite imports from the country declining by 19.37 percent year-on-year.

Compared to February, crude imports from Iraq fell to $811 million in March from $1.72 billion, while imports from Saudi Arabia declined to $1.39 billion from $1.82 billion. Purchases from the United States dropped to $415.61 million from nearly $540 million in February.

The sudden spike in Oman imports points to a significant reshuffle in India's crude sourcing strategy during the period of elevated volatility across Gulf energy markets. India's overall crude oil imports fell to $9.53 billion in March from $14.77 billion during the year-ago period, dropping 35.5 percent, reflecting the wider disruption in global crude flows due to the US-Israel war on Iran.

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India's imports from Oman had remained volatile through the previous year, with the country importing crude worth $126.92 million in May 2025, $149.47 million in July, and $234 million in August before purchases slowed sharply later in the year. Imports stood at $73.64 million in October and $86.72 million in November before dropping to $13.79 million in December. After recovering to $142.95 million in January 2026.