India's crude imports could face problems in 2025 due to geopolitical risks

The US Energy Information Administration predicted global oil price benchmark Brent to average $73.58 per barrel in 2025 in its latest short-term energy outlook

India’s growing imports of crude oil, a looming threat to the country’s energy security, may face a turbulent 2025 amid geopolitical winds emerging from the new Donald Trump administration, Russian President Vladimir Putin’s manoeuvres in Ukraine, tightening sanctions on Iran’s oil, and escalating Houthi rebel attacks, industry executives said. 

However, copious oil supplies amid growing global output and slowing Chinese oil consumption will put India in a better bargaining position with Gulf suppliers, who are in talks to renew annual crude supply contracts. 

As a result, the crude import bill, a growing strain on the country’s trade deficit, may ease