Reliance Drives India's Venezuelan Oil Imports to Seven-Year High

Reliance Industries has resumed and scaled up Venezuelan crude purchases, pushing India's imports to a seven-year high, with Reliance accounting for over three-quarters of the volume. This marks a reversal from the U.S. sanctions era when Indian refiners avoided Venezuelan oil. The shift signals a recalibration of global oil flows and potential strain on U.S. sanctions enforcement, with implications for OPEC+ dynamics and heavy crude supply.