Venezuelan Crude Returns to India as Middle East War Rattles Gulf Supplies

Dow Jones03-23

By Giulia Petroni

Venezuelan crude is returning to India at a critical time, offering refiners a key alternative to Persian Gulf supplies as the war in the Middle East enters its fourth week.

Roughly 1 million barrels a day of Venezuelan crude is expected to arrive at Indian ports between late March and early April after a nine-month pause, according to Kpler. An additional 6 million to 8 million barrels should be discharged through April.

Indian refiners are actively diversifying their crude slate, partly to reduce exposure to risks in the Strait of Hormuz. However, Kpler analysts said that many March cargoes were likely booked well before the recent disruptions, pointing to a longer-term strategic shift.

"Refiners are placing greater emphasis on optionality and forward planning--signaling a shift where energy security considerations are taking center stage alongside economic factors," they said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

March 23, 2026 04:56 ET (08:56 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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