Brent crude prices remained stable, trading between $67 and $69 per barrel. No major global events triggered volatility, while India’s Russian oil imports helped maintain stability. The country aims to ensure affordable energy for its citizens.
India currently imports around 1.5 million barrels per day, with Russian supplies reducing costs, according to Emkay Wealth Management. The report noted that future price movements will depend on US sanctions and tariff policies. China is also increasing its Russian oil imports to meet domestic demand.
With India and China sourcing heavily from Russia, oil prices are expected to stay range-bound, benefiting importing nations. Lower energy costs are vital for India to curb inflation and stabilise the economy. Analysts highlighted that India’s strategy balances geopolitical shifts and domestic priorities.
US Energy Secretary Chris Wright praised India as an “awesome ally” with growing energy demand. He emphasized stronger India-US energy cooperation, while Commerce Minister Piyush Goyal also called for expanding bilateral energy trade. Both leaders highlighted the mutual benefits of a robust partnership in energy.
