Indian state-owned refiners Indian Oil Corp and Hindustan Petroleum Corp have collectively purchased approximately 7 million barrels of crude oil through tender processes, according to trade sources.
The cargoes are scheduled for delivery between late August and early September, indicating a steady flow of demand into the autumn quarter.
The procurement activity underscores the resilience of Indian demand despite broader geopolitical friction in West Asia that has raised concerns about global energy shipments.
With deliveries timed for late summer, the purchases suggest refiners are maintaining inventory build strategies ahead of potential seasonal shifts or supply disruptions.
This development follows data showing India’s crude oil imports surged to an all-time high of 4.93 million barrels per day in June.
Russian supplies accounted for more than half of the total volume during that period, highlighting the structural shift in sourcing patterns for the world’s third-largest oil importer.