India is set to import the most oil from Venezuela in almost six years, helping the world’s third-largest crude importer replace Middle East grades disrupted by the Iran war.
More than 12 million barrels are headed to India’s west coast this month from the South American producer, the most since February 2020, according to data from Kpler. The April-arriving cargoes were likely secured before the recent disruptions in supplies from the Middle East, underscoring a longer-term strategic shift rather than a purely reactive move, said Sumit Ritolia, a lead research analyst at the data intelligence firm.
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