Amid the ongoing realignment of trade and energy flows between Latin America and the Asia-Pacific, Venezuela has registered a notable rebound in its hydrocarbon exports to India. According to customs and global flow monitoring data, the South American nation positioned itself during April and May 2026 as the fourth largest oil supplier to the Indian market, reaching import volumes of 319.2 thousand barrels per day (kbd) in May—a 13.9% monthly increase.
This commercial dynamism marks a turning point compared to the previous fiscal year, a period in which nominal supply flows were limited by international regulatory factors. Nevertheless, a structural analysis of official statistics from the Indian Ministry of Commerce and Industry’s Tradestat system clearly demonstrates the deep technical complementarity between both economies: Chapter 27 of the Harmonized System (mineral fuels and oils) consistently concentrates 78.02% of the total value of India’s purchases from Venezuela. The recent surge in shipments reflects India’s efforts to diversify its traditional supply sources away from the Strait of Hormuz, turning to Venezuelan heavy crude in a context of high volatility in the Middle East.
