Ambani's Reliance drives India’s Venezuela oil imports to seven-year high

India is expecting to significantly increase its imports of Venezuelan oil this month due to appealing discounts. Venezuelan crude deliveries may exceed 465,000 barrels a day, marking the highest levels since December 2019. Reliance Industries is particularly benefiting from these low-cost supplies as Russian shipments decline amidst rising costs. While Venezuelan oil is more affordable, it presents processing challenges for some refineries.