India Resumes Venezuelan Crude Purchases After U.S. Opens Market
Market Intelligence Analysis
AI-PoweredIndia's Reliance Industries has resumed purchasing Venezuelan crude, securing the first Indian purchase since the U.S. took control of Venezuela's oil sales, with a cargo of 2 million barrels.
Market impact analysis based on bullish sentiment with 80% confidence.
Article Context
India’s largest private refiner, Reliance Industries, is buying Venezuelan crude again, securing the first Indian purchase of oil from the world’s top reserves holder since the U.S. took control of Venezuela’s oil sales early last month. Reliance Industries has purchased a cargo of around 2 million barrels, an anonymous source with knowledge of the deal told Bloomberg on Friday. Reliance Industries last bought crude from Venezuela in the middle of 2025, under a special waiver from the U.S. Administration from mid-2024. Last month,…
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