What prompted India to seek deeper oil ties with Venezuela, according to the news?

India is seeking deeper oil ties with Venezuela as part of an aggressive effort to secure alternative crude sources after the Iran conflict blocked the Strait of Hormuz—a chokepoint through which nearly 40% of India’s oil imports previously flowed—while the country imports about 90% of its crude oil consumption.

How significant is Venezuela in India’s current oil import mix, and what data supports this?

Venezuela has become the third-largest supplier of crude oil to India in the month of the briefing, with shipments reaching 283,000 barrels per day in April—the highest since March 2020—and Kpler data estimating June arrivals could rise to about 380,000 barrels per day, signaling its growing importance in India’s energy mix.

India Seeks Deeper Venezuela Oil Ties After Rodríguez and Modi Meet

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India aims to deepen energy ties with Venezuela, including crude oil sourcing and investments in pharma and mining sectors, following talks between Prime Minister Modi and Acting President Rodríguez.

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