Venezuela becomes India's 3rd-biggest crude oil supplier in May 2026

India May 22, 2026

India just switched things up in May 2026: Venezuela is now the third-biggest source for India's crude oil.
After a nine-month pause, Venezuelan oil imports jumped to nearly 417,000 barrels a day in the first 20 days of May, way up from April's 283,000 barrels a day.
This shift shows how Indian refiners are adapting fast to changing global supplies.

US easing enabled Venezuelan export surge

Venezuelan crude is budget-friendly and works well with advanced refineries like Reliance Industries's Gujarat plant, which can handle heavier grades efficiently.
The comeback was made possible after the US eased export restrictions earlier this year, letting Venezuela ramp up exports to its highest levels since 2018.