Sharp rebound! India’s crude inventory hits almost 1-year high

AI Summary

India's crude oil inventory reached nearly a one-year high of 104 million barrels at the end of June 2026, up from 90.5 million barrels in April. This surge is driven by refiners sourcing alternative supplies amid Strait of Hormuz closure due to regional conflict threats.

According to estimates from Kpler, a global real-time data and analytics provider, India's crude oil inventory stood at 104 million barrels at the end of June, up significantly from 90.5 million barrels at the end of April. With the closure of the Strait of Hormuz during the conflict threatening nearly 40% of India's crude oil imports, refiners moved quickly to source alternative supplies from global markets.