India has urged its state‑owned refiners to consider buying more crude oil from both the United States and Venezuela as it seeks to diversify its oil import sources, following a recent trade deal that Washington says includes a shift away from Russian oil. Refiners have been encouraged to prioritize US oil grades in spot market tenders and to explore purchases of Venezuelan crude through private negotiations, though logistical, cost, and refinery compatibility challenges remain. According to Bloomberg, the move reflects New Delhi’s broader efforts to balance energy security with evolving global trade dynamics. They write:
India asked state-owned refiners to consider buying more US and Venezuelan crude after a trade deal the Trump administration said included a pledge to stop importing Russian barrels.
Refiners have been urged to prioritize US grades when they seek oil from the spot market via tenders, said refinery executives familiar with the matter. The government made a similar request regarding Venezuelan crude, they added, though those cargoes will be sourced through private talks with traders.
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