12 million barrels of Venezuelan oil may reach India this month
Indian Express·1h ago·Positivity
What Happened
India is expected to receive 10-12 million barrels of Venezuelan crude oil this month, the highest in over six years, according to Kpler analytics. This marks the first Venezuelan oil delivery since May last year. The shipment provides relief amid West Asia conflicts disrupting global oil flows. India imports over 88% of crude needs from 41 countries. Venezuelan crude offers higher distillate yields, strengthening India's diesel production capacity during market shortages.
Key Entities
IndiaVenezuelaReliance Industries Ltd (RIL)KplerWest AsiaStrait of HormuzUS sanctionsTrump administration