Brief by Shorts91 Newsdesk / 12:42pm on 22 May 2026,Friday India Global
Venezuela has become India’s third-largest crude oil supplier in May, overtaking Saudi Arabia and the United States. Indian refiners increased purchases of Venezuelan crude because it is cheaper than many other global oil grades. According to Kpler data, Venezuela supplied around 417,000 barrels of crude oil per day to India this month. Experts said the ongoing West Asia conflict and disruptions near the Strait of Hormuz also affected India’s oil imports. Saudi Arabia’s oil supply to India dropped sharply in May. Analysts said Venezuelan crude is attractive because it suits complex Indian refineries, including Reliance Industries’ Jamnagar refinery in Gujarat.
