After Russia, India Eyes Oil From Venezuela | Will It Displace Middle Eastern Imports Amid Tensions?

India is reportedly now evaluating options to resume imports of Venezuelan crude at discounted rates. This comes after the US eased sanctions on Venezuela after its government and opposition agreed to have next year’s election monitored by international observers. India imported approximately 300,000 barrels per day of Venezuelan crude oil during the pre-sanctions period from 2017 to 2019.