Overview
- Kpler trade data show the United States supplied about 55% of India’s LPG imports in May 2026, up from 14% in February as Gulf cargoes fell sharply.
- Overall LPG imports fell from roughly 2.0 million tonnes per month in February to about 1.2 million tonnes in May 2026 while India raised domestic LPG production to around 50,000–52,000 tonnes per day and tightened cylinder allocation rules.
- Russia remained India’s largest crude supplier in May 2026 with roughly 1.95 million barrels per day of shipments, a 24% increase from April that helped offset losses from some Gulf producers.
- India boosted purchases from Venezuela (around 266 kbpd in May) and Oman (about 250 kbpd in May) to diversify toward sources and ports less exposed to the Strait of Hormuz, a shift reinforced by the India–Oman CEPA coming into effect in early June.
- Short-term uncertainty remains because a US 30-day waiver allowing vulnerable buyers to receive Russian seaborne crude expires on 17 June, so markets will watch whether Middle East flows normalise or further rerouting is needed.