Venezuela becomes India's third-largest oil supplier
pre-market1 source ↓written by the desknot a recommendation
- than in April
- 50% higher
- of oil
- 303 billion barrels
- 17% of global reserves
Venezuela has become India’s third-largest crude oil supplier this month, with shipments nearly 50% higher than in April. This shift comes amid the ongoing energy crisis due to the war on Iran and the closure of the Strait of Hormuz.
Key Points:
• Venezuelan Acting President Delcy Rodriguez is set to visit India next week to discuss oil sales.
• Venezuela holds an estimated 303 billion barrels of oil, about 17% of global reserves.
This development may stabilize India's energy supply and impact global oil markets.
Not investment advice. For informational purposes only.