Venezuelan crude becomes India’s third-largest oil source, now cheaper than Russian oil — But there’s a catch
- Posted on May 22, 2026
- By Financial Express
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- 1 min read
Venezuelan crude becomes India’s third-largest oil source, now cheaper than Russian oil — But there’s a catch
Venezuelan crude has become cheaper than Russian oil delivered to Indian ports, a reversal that would have seemed impossible just a few years ago. But despite the pricing shift and rising imports, India’s dependence on Russian oil remains largely unchanged.
