India is set to import the most oil from Venezuela in almost six years as it seeks to replace Middle East grades disrupted by the Iran war. The shift reduces India's reliance on Middle East supply, reallocates crude flows toward Venezuelan medium/heavy grades and may affect refinery feedstock slates, tanker freight patterns and regional benchmark differentials.
India is set to import the most oil from Venezuela in almost six years as it seeks to replace Middle East grades disrupted by the Iran war. The shift reduces India's reliance on Middle East supply, reallocates crude flows toward Venezuelan medium/heavy grades and may affect refinery feedstock slates, tanker freight patterns and regional benchmark differentials.
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