Indian Refiners Pivot From Russian to Venezuelan Crude

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Indian refiners, particularly Reliance Industries, are shifting their crude oil supply from Russia to Venezuela due to US pressure and tariffs, marking a significant pivot in their energy sourcing strategy.

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Market impact analysis based on bearish sentiment with 80% confidence.

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Bearish
ثقة الذكاء الاصطناعي
80%
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Reliance Industries has bought its first cargo of Venezuelan crude since 2023 from Chevron, Reuters has reported, citing shipping data, amid growing appetite from Indian refiners for non-Russian oil supply. That appetite was prompted by U.S. pressure on the Indian government to reduce its imports of Russian crude—or face higher tariffs. Reliance Industries, India’s largest refiner, received a license to buy and sell Venezuelan crude from the United States federal government earlier this month. Reliance was the biggest single buyer of…

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المقال الأصلي منشور بواسطة OilPrice.com في فبراير 25, 2026.
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