India’s Crude Oil Import Bill Jumps 57% To $63.4 Billion In April-July FY27 Despite Flat Volumes

India’s crude oil import bill surged nearly 57% year-on-year to $63.4 billion during April-July FY27, despite import volumes rising only 0.5%. Higher global oil prices significantly increased the country’s energy costs, while crude import dependence remained high at 88.3%. The overall oil and gas import bill also widened sharply