Venezuela overtakes Saudi as India's 3rd-biggest supplier at 358,000 bpd

Business Sep 01, 2026

India just hit a six-year high for oil imports from Venezuela, bringing in 358,000 barrels per day in August 2026, a big 64% jump from July.

This surge happened after the US relaxed sanctions on Venezuela, letting it sell more oil globally.

Thanks to this, Venezuela has overtaken Saudi Arabia as India's third-biggest crude supplier.

India diversifies crude suppliers

Saudi Arabia slipped to fourth place after its shipments dropped 18%, mainly due to a naval blockade by Houthi militants.

Russia is still India's top supplier (even with a dip because of refinery maintenance), and the UAE boosted its exports by 15%.

India's also buying more from Angola, showing how it's spreading out its energy bets to stay steady during all these global twists and turns.