12 million barrels of crude! India ramps up Venezuela oil imports to 6-year high amid US-Iran war, Hormuz crisis

India is actively looking to offset supply disruptions from the Middle East caused by the Iran conflict. (AI image)

Amid the raging US-Israel-Iran war, India is set to get high volumes of crude oil from Venezuela as the Strait of Hormuz supply disruptions continue. Shipping data quoted by Kpler indicates that over 12 million barrels of Venezuelan crude are expected to arrive on India’s western coast this month, the largest volume since February 2020. This marks the highest level of Venezuela crude oil purchases in the last six years for India.India is actively looking to offset supply disruptions from the Middle East caused by the Iran conflict.

Venezuelan Crude Flows Into India

According to a Bloomberg report quoting Kpler’s lead research analyst Sumit Ritolia, the shipments arriving in April were likely contracted before the recent disruptions in Middle Eastern supplies. “This underscores a longer-term strategic shift rather than a purely reactive move,” he was quoted as saying.India, which relies on imports for about 90% of its crude oil needs, has been exploring alternative sources after the conflict affected flows through the Strait of Hormuz, a route that typically handles nearly 40% of its oil supplies.

Venezuela produces similar sulphur-heavy grades, and India had earlier been a major buyer from the OPEC nation before trade declined due to US sanctions, which were eased by Washington following the capture of President Nicolás Maduro in January.The Suezmax vessel Ottoman Sincerity, transporting close to 1 million barrels of Boscan crude, has reached the Sikka port operated by Reliance Industries Ltd., marking the first shipment of Venezuelan oil to India in the past year. The cargo, consisting of asphaltic-grade crude, was loaded through ship-to-ship transfers near the Caribbean island of Aruba.Reliance, which holds approval from the US to directly procure crude from Venezuela’s state-run PDVSA, has also taken delivery of another shipment this week. This consignment was loaded onto the Bahamas-flagged very large crude carrier Helios, indicating a shift away from earlier sourcing methods that involved intermediaries such as Vitol Group and Trafigura, the Bloomberg report said.

According to Ritolia, heavier Venezuelan crude typically produces a larger share of middle distillates, including diesel and jet fuel, which is particularly relevant at a time when these segments remain in tight supply. Data from Kpler indicates that a significant portion of these imports consists of Venezuela’s key export grade, the Merey blend.