Russia remained largest oil supplier to India and China in May — OPEC report

Lead

Russia continued to hold its position as the largest oil supplier to both India and China in May, according to data cited in a report by the Organization of the Petroleum Exporting Countries (OPEC). The report, which draws on Kpler data, shows Russian crude exports to India at 2.1 million barrels per day (bpd) in May, up from 1.7 million bpd in April. Despite a drop in China's overall imports, Russia remained the top supplier there as well.

The OPEC figures, reported by TASS, place the UAE as India's second-largest supplier in May with 611,000 bpd, followed by Saudi Arabia with 350,000 bpd.

Coverage Comparison

The details of Russia's supply position come from reporting by TASS, which covered the OPEC data and also provided analysis from Kpler, a firm that tracks oil shipments. Both sets of reporting focus on the volume of Russian crude flowing to Asian buyers, with one article examining May data and another looking at June figures that point to a record monthly import level for India.

The May data show an overall rise in India's oil imports month-on-month, while China's imports declined. In June, India's imports set a new record, with Russia again accounting for the majority of supply, according to Kpler.

Key Claims

• Russia was the largest oil supplier to India in May 2026, exporting 2.1 million barrels per day, according to an OPEC report citing Kpler data.
• India's total oil imports rose month-on-month in May, averaging 5.09 million bpd against 4.92 million bpd in April.
• China's oil imports fell in May to 7.72 million bpd from 9.32 million bpd in the previous month. Despite this, Russia remained China's top supplier, accounting for 25% of total deliveries. Saudi Arabia and Brazil supplied 17% and 16%, respectively.
• In June, India's oil imports reached a record 4.93 million bpd, with Russian crude comprising more than half, around 2.6 million bpd, according to Kpler analyst Sumit Ritolia.
• Ritolia noted that India has been 'one of the best-positioned major importers' over the past 100 days, maintaining crude inflows through diversification and procurement strategies.
• Indian refiners have already secured oil supplies for the first half of August, which reduces the need for immediate spot buying even with geopolitical risks present, the analyst said.
• Ritolia also expects global oil supplies to remain ample, supported by increased exports from Africa, Russia, and Venezuela, rising OPEC+ production, and uninterrupted flows through the Strait of Hormuz. He noted that the recent decline in global oil prices indicates markets are less concerned about short-term supply disruptions.
• India is the world's third-largest oil importer and consumer, meeting over 88% of its crude needs through imports. It has significantly increased purchases of Russian oil since 2022.