Brief by Shorts91 Newsdesk / 02:59pm on 20 Aug 2026,Thursday India Global
India is diversifying crude imports as Iran conflict and Strait of Hormuz uncertainty threaten Gulf supplies. Venezuelan crude surged in August to around 444,000 barrels per day, making Venezuela India’s fourth-largest supplier, while Russia remains the biggest at nearly 2 million bpd. Latin American crude accounted for 12.7% of imports between April and July, up from 3.5% a year earlier, while West Asia’s share fell from 43% to around 30%. India is also increasing domestic output, suppliers, shipping routes and inventories while expanding alternatives including gas, biofuels, electric vehicles and renewables. However, Gulf oil remains difficult to replace because of shorter, cheaper transport. India remains dependent on imports, making energy security critical. (PC: X)
