India is set to import the largest volume of oil from Venezuela in nearly six years, a move that will help the world's third-largest crude importer replace disrupted Middle Eastern supplies resulting from the Iran conflict.
According to data from Kpler, over 12 million barrels of crude from the South American producer Venezuela will be shipped to India's west coast this month, marking the highest monthly volume since February 2020. Sumit Ritolia, Chief Research Analyst at data intelligence firm Kpler, noted that the crude arriving in April was likely arranged before the recent Middle Eastern supply disruptions, highlighting a long-term strategic shift rather than a purely reactive measure.
The South Asian nation, which imports approximately 90% of its crude, has been seeking alternatives after the Iran conflict disrupted oil shipments through the Strait of Hormuz—a passage that typically handles nearly 40% of the country's oil supply. Venezuela produces similar sulfur-rich crude, and India was once a major buyer for this OPEC producer until U.S. sanctions restricted trade. However, the U.S. eased sanctions on Venezuela in January after arresting Venezuelan President Nicolás Maduro.
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