India faces crude oil pressure as Russia discounts fade and global supply tightens

India, which imports nearly 90% of its crude oil, is confronting a potential rise in its energy import bill amid shifting global supply dynamics. Discounts on Russian crude oil, which India had been heavily relying on since Western sanctions pushed Moscow to offer cheaper prices, appear to be narrowing. Simultaneously, competition from China for discounted Russian barrels and disruptions to Saudi Arabian pipeline supply are adding further strain to global crude availability. Rising crude prices driven by these combined pressures could significantly increase India's oil import expenditure. The situation raises concerns about how India's economy will absorb another major hike in its crude oil costs within a short period.