Venezuela Beats Saudi Arabia And US To Become India's Third-Largest Crude Supplier In May
Venezuela has emerged as India's third-largest crude oil supplier in May 2026, overtaking traditional heavyweights Saudi Arabia and the United States. According to energy cargo tracker Kpler, Venezuela supplied 417,000 barrels per day (bpd) to India this month, up from 283,000 bpd in April. The shift highlights how Indian refiners are pivoting toward cheaper, heavier crude grades to counter major maritime supply disruptions in West Asia.
- Republic Business
- 2 min read
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Venezuela became India's third-largest crude oil supplier in May, overtaking energy giants Saudi Arabia and the United States.
Data compiled by global energy cargo tracker Kpler shows that the South American nation shipped 417,000 barrels per day (bpd) to India so far this month. This marks a sharp increase from 283,000 bpd in April. Before April, Venezuela had sent zero oil to Indian ports for nine consecutive months.
The rapid surge follows the easing of United States restrictions on Venezuelan exports earlier this year. Only Russia and the United Arab Emirates supplied more crude to India during the month of May.
Sourcing Change
The sudden reshuffling of India’s energy basket comes as ongoing conflicts in West Asia alter traditional shipping routes. Recent disruptions around the critical Strait of Hormuz have forced Indian private and state refiners to look beyond traditional Middle Eastern supply hubs.
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While shipments from Iraq and Iran have faced severe logistics bottlenecks and blockades this month, total Indian crude imports actually rose 8% month-on-month to 4.9 million bpd in May, according to port tracking data. Refiners successfully filled the supply gaps by tapping cheaper alternatives across the Atlantic.
Kpler's shipping ledger notes that economic benefits are driving this trade pivot. Venezuelan heavy crude is currently trading at a highly competitive discount compared to standard global benchmarks like Brent crude.
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Furthermore, Indian Commerce Ministry refinery logs confirm that this high-sulfur, heavy-grade from Venezuela fits India’s advanced processing infrastructure. In particular, the complex refining setup operated by Reliance Industries in Jamnagar, Gujarat, is built to maximize fuel yields from exactly this type of dense oil.
Saudi Shipments
As Venezuela expanded its market share, shipments from Saudi Arabia to India saw a steep decline. Saudi supplies nearly halved to 340,000 bpd in May, dropping from 670,000 bpd recorded in April.
Official export schedules from Riyadh show that aggressive pricing strategies made Saudi barrels less attractive to cost-conscious Indian buyers. This price difference led Indian refiners to capitalize on the returning Venezuelan supply instead.