India’s Q1 FY27 crude import bill hits $50 bn amid West Asia war
India’s Q1 FY27 crude oil import bill jumped to nearly $50 bn, a record driven by soaring prices from the West Asia war and a weak rupee. India bought 60.5 million tonnes, lifting import dependence to 89 percent, the highest level on record. The surge squeezes refiner margins and underscores the urgency of diversifying energy supplies.