India’s Top Private Refiner Gets U.S. License to Buy Venezuelan Oil

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Why This Matters

Reliance Industries, India's largest private refiner, has been granted a U.S. license to purchase, export, and sell Venezuelan crude oil, potentially increasing oil imports and affecting global oil markets.

Market Impact

Market impact analysis based on bullish sentiment with 85% confidence.

Sentiment
Bullish
AI Confidence
85%
Time Horizon
Short Term

Article Context

Note: This is a brief excerpt for context. Click below to read the full article on the original source.

India’s largest private refiner, Reliance Industries, has been authorized by the United States to buy, export, and sell Venezuelan crude oil, Reuters reported on Friday, citing sources with knowledge of the situation. Reliance last month applied with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for a general license to be able buy Venezuelan crude without violating the sanctions, according to Reuters sources. The license would give India’s top private refiner, which operates the largest refining…

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Original article published by OilPrice.com on February 13, 2026.
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