Brief by Shorts91 Newsdesk / 05:17am on 22 May 2026,Friday India Global
Venezuela has become India’s third-largest crude oil supplier in May, surpassing Saudi Arabia and the United States as Indian refiners increased purchases of discounted Venezuelan crude. According to Kpler data, Venezuela supplied about 417,000 barrels per day this month, compared to 283,000 bpd in April, after nine months without exports to India. Russia and the UAE remained India’s top suppliers. The shift comes amid disruptions caused by the West Asia conflict, Strait of Hormuz tensions and halted Iranian shipments. Analysts said Venezuelan crude suits complex refineries like Reliance Industries’ Jamnagar facility and remains cheaper than competing grades. Saudi supplies sharply declined due to aggressive pricing, while Iraq imports also stayed significantly lower.
