India will increase oil imports from Venezuela amid a shortage from the Middle East

India plans to significantly increase its oil purchases from Venezuela to compensate for the shortfall in supplies from the Middle East.

The April shipments were likely booked before the Strait of Hormuz was blocked. As a result, the country is preparing to import the largest volume of Venezuelan oil in the past six years.

This is reported by Bloomberg.

According to Kpler data, in April, the largest volume since February 2020—over 12 million barrels—will arrive on India’s west coast from Venezuela.

The shipments arriving this month were likely booked before the recent disruptions in supplies from the Middle East. This underscores a long-term strategic shift rather than a purely reactive move, noted analyst Sumit Ritolia.

"This South Asian country, which imports about 90% of its oil, has been seeking alternatives after the war with Iran disrupted supplies through the Strait of Hormuz, through which nearly 40% of the country’s oil shipments typically pass," the agency writes.

It is noted that Venezuela produces similar high-sulfur blends, and India was previously a major buyer from this OPEC producer before trade was restricted by U.S. sanctions. Washington later eased those sanctions following the ouster of Venezuelan President Nicolás Maduro.

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