Venezuela overtakes Saudi Arabia as India's 3rd biggest oil supplier
Venezuela just jumped ahead of Saudi Arabia to become India's third-biggest crude oil supplier in May 2026.
Indian companies, like Reliance Industries, are buying more Venezuelan oil because it's cheaper and heavier.
This comeback follows nine months without shipments, after the US relaxed sanctions on Venezuela earlier this year.
India crude imports rise 8%
India's overall crude imports went up by 8% in May, hitting 4.9 million barrels a day, though that's still lower than pre-Iran war levels.
Meanwhile, Saudi supplies dropped sharply due to tough pricing tactics.
Iraqi shipments have started trickling back after disruptions at the Strait of Hormuz, but Iranian oil is off the table for now thanks to a US naval blockade.
All these shifts highlight how global politics and prices are changing where India gets its energy from.