India Lifts Venezuela Oil Imports to 417,000 Bpd to Bypass Hormuz

India has accelerated Venezuelan crude purchases to 417,000 barrels per day in early June, up from 283,000 bpd in April, as it diversifies away from Gulf supplies disrupted by the near-shutdown of the Strait of Hormuz. The surge follows eased U.S. sanctions in February and is being advanced during interim President Delcy Rodriguez’s June 3–7 visit to New Delhi, where upstream and downstream cooperation is under discussion. Venezuela became India’s third-largest supplier this month, while broader South American exports rose 155 million barrels year-on-year through May, helping offset Middle East shortfalls.