A major change has been seen in the matter of oil imports in February 2026. Saudi Arabia has regained the position of India’s largest crude oil supplier, leaving Russia behind. This change has come after the recent trade agreements between India and America and increasing international pressure on Russia. Reports suggest that due to American pressure and business advantages, Indian refinery companies have turned to Saudi Arabian and American oil instead of Russian oil.
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Big change in February figures
According to the latest data, oil imports from Saudi Arabia have increased rapidly in the first fortnight of February. At the same time, Russia, which was at number one for the last several months, has now slipped to second place. While Russia’s share was higher in January, Saudi Arabia has strengthened its hold in the market in February.
Saudi Arabia (new number 1): Imports rose to an average of 1.13 million barrels per day in February.
Russia (decline): Imports from Russia have declined to 1.09 million barrels per day.
previous record: In January, Russia was on top with 1.14 million barrels, while Saudi Arabia was far behind.
Market Share: Russia’s share in India’s total oil imports has fallen to 21.2%.
Agreement with America and Saudi discount
Two main reasons are believed to be behind this change. First, the ‘Interim Trade Agreement’ signed between India and America on 2 February 2026. Under this, America has reduced the tax on Indian goods from 25% to 18%. The White House claims that in return India has assured to reduce the purchase of Russian oil.
The second big reason is the new pricing policy of Saudi Aramco. The Saudi company has cut its selling price and removed a premium of 30 cents per barrel. Due to this, Saudi oil has become more economical than Russian oil and Indian companies have taken it up immediately.
What does the government say?
The Indian Foreign Ministry has given a measured response to this entire matter. Ministry spokesperson Randhir Jaiswal has made it clear that India’s energy purchase completely depends on the market conditions and cost. He said that the government is committed to the energy security of 1.4 billion Indians and will buy oil from wherever it is available at the right price. At the same time, Petroleum Minister Hardeep Singh Puri has indicated that India also has options like Guyana, Brazil and Canada.