India’s appetite for Venezuelan crude has spiked significantly, with daily imports hitting 427,000 barrels in May. This figure marks a 51% increase from April’s 283,000 barrels per day, following the United States' decision to ease sanctions earlier this year. Venezuela now ranks as India’s fourth-largest oil supplier, trailing only behind established trade partners.

Foreign ministry officials in New Delhi describe the current engagement as a return to normalcy with a long-standing ally. For Venezuela, the partnership is critical as national production climbs; total exports reached 1.25 million barrels per day in May, with projections suggesting a rise to 1.5 million by next year. India, which relies on imports for 85% of its domestic energy needs, is actively diversifying its supply chain. By increasing procurement from Venezuela, Brazil, and Russia, the world’s third-largest oil importer aims to mitigate risks associated with the ongoing blockade of the Strait of Hormuz and declining availability from Middle Eastern producers.