Archive · 14 Jan 2026
Venezuela Developments Unlikely to Impact India
India needs a lot of oil to keep things running, and most of it comes from other countries.
There's been some trouble in Venezuela, but experts say it won't affect India much.
Venezuela has a lot of oil, but it's only a tiny part of what India uses.
India doesn't trade much with Venezuela, so even if there are problems there, it won't make a big difference.
In fact, if Venezuela starts producing more oil, it could make oil cheaper for India.
So, India is safe from the problems in Venezuela.
However, if there's a war between the US and Iran, oil prices might go up for a short time.
But overall, experts think oil prices will stay low because there's more oil than people need.
Venezuela accounts for only 1.5% of global crude oil supply and 1% of India's crude oil imports.
India's direct trade exposure to Venezuela is minimal, with imports and exports accounting for less than 0.25% and 0.1% of total trade, respectively.
Brent crude prices have remained stable, hovering slightly above $60 per barrel.
Crisil Ratings does not anticipate any near-term impact from the Venezuela situation on oil prices or Indian corporates.
Increased investments in Venezuela's untapped oil reserves could potentially boost global supply and lead to softer crude prices, benefiting India.
- Who
- India, Venezuela, US, Crisil Ratings, Nomura, S&P Global Energy
- What
- Venezuela developments unlikely to impact India's trade or oil prices
- When
- Ongoing, with recent developments in Venezuela
- Where
- India, Venezuela, US
- Why
- Due to India's minimal trade exposure and Venezuela's small share in global oil supply
- Venezuela's global oil supply share
- 1.5%
- Venezuela's share of India's crude oil
- 1%
- Venezuela's share of India's total imports
- 0.25%
- Venezuela's share of India's total exports
- 0.1%
- India's crude oil imports from Venezuela (FY25)
- Rs 14,000 crore
- India's exports to Venezuela (FY25)
- Rs 2,000 crore
- Venezuela's share of India's pharmaceutical exports
- 0.5%
- Venezuela's proven oil reserves
- 18% of world's total
- Venezuela's crude oil production (2025)
- 826,000 barrels per day
- Venezuela's crude oil exports (2025)
- 750,000 barrels per day
Sources
Venezuela developments unlikely to impact oil prices: Crisil Ratings
Russia vs Venezuela: Which oil is a better bet for India?Russia vs Venezuela: Which oil is a better bet for India? – Firstpost
Venezuela developments unlikely to impact oil prices: Crisil
Venezuela developments unlikely to impact Indian companies: Crisil Ratings
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