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The Economic Times
The Economic Times
Business

India reworks oil map with Venezuela as Hormuz battlefield keeps Gulf flows in doubt

India Oil Venezuela Sumit Ritolia Latin America United States electric vehicle Kpler Russia

India is widening its crude oil sourcing to Latin America as disruptions linked to the Iran conflict and the Strait of Hormuz push refiners to diversify supplies, according to ship-tracking data and industry analysis cited by PTI.

Indian crude imports from Venezuela have risen sharply in August, making it the country's fourth-largest supplier, Kpler data showed. Venezuelan supplies reached about 444,000 barrels per day (bpd), ahead of Iraq at 118,000 bpd and the US at 153,000 bpd.

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