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Venezuela's oil exports to India surge, restoring key supplier role
Venezuela is a country in South America that has lots of oil.
For a long time, problems with other countries meant Venezuela could not sell much oil to India.
But in 2026, Venezuela started selling lots more oil to India again.
India buys oil from many countries so it always has enough energy.
Venezuelan oil is special because Indian factories are very good at cleaning it.
India had bought almost no oil from Venezuela for nine months, and then suddenly bought a lot.
In May, Venezuela became India's third-biggest oil seller, after Russia and the United Arab Emirates.
The change happened after new leaders came to power in Venezuela and America allowed them to sell oil again.
This helps both countries: India gets more oil choices, and Venezuela earns money to recover.
Venezuela's overall oil exports reached their highest levels since 2018 earlier this year, according to shipping trackers and PDVSA data.
Indian monthly imports of Venezuelan crude jumped from an average of 64.027 TMT in FY 2025-26 to 1,047.148 TMT in April-May of FY 2026-27.
Venezuela became India's third-largest crude supplier in May, behind only Russia and the United Arab Emirates.
The rebound followed the easing of US restrictions on Venezuelan oil sales after political changes in Caracas that saw Nicolás Maduro replaced by acting President Delcy Rodríguez.
Indian refineries are well-suited to process Venezuela's heavy, high-sulphur crude grades, which have often been available at competitive discounts.
- Who
- Venezuela's state oil company PDVSA, Indian refiners, Russia, the United Arab Emirates, and Venezuelan leaders Nicolás Maduro and Delcy Rodríguez.
- What
- Venezuela's crude oil exports to India surged, restoring its role as a key energy supplier and making it India's third-largest crude supplier in May.
- Where
- Venezuela, India, and oil shipping routes including the Strait of Hormuz and West Asia.
- When
- 2026, with the sharpest rise in April-May of FY 2026-27; overall exports hit their highest levels since 2018 earlier this year.
- Why
- The easing of US restrictions on Venezuelan oil sales after political changes in Caracas, combined with India's drive to diversify energy sources amid West Asia conflict and Hormuz flow disruptions.
Key facts
- Monthly imports FY 2025-26 average
- 64.027 TMT
- Monthly imports April-May FY 2026-27
- 1,047.148 TMT
- India ranking in May
- Third-largest crude supplier, behind Russia and UAE
- Previous nine months
- Virtually no Venezuelan crude imported
- Exports milestone
- Highest overall exports since 2018
- Crude type
- Heavy, high-sulphur grades at competitive discounts
- Acting President of Venezuela
- Delcy Rodríguez, replacing Nicolás Maduro
Sources
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