Oil in spotlight as Venezuela’s Rodríguez visits India amid supply woes, shifting flows in Oil & Companies News 04/06/2026 India’s growing appetite for Venezuelan crude will be in the spotlight during acting President Delcy Rodríguez’s visit to New Delhi this week, as the two countries look to expand energy ties amid a prolonged Middle East conflict and disruptions to flows through the Strait of Hormuz, which are reshaping the global oil flow map, government officials, industry sources and analysts said June 2. The diplomatic visit comes at a time when India is rapidly acquiring Venezuelan crude to fill the gap left by disruptions to Middle Eastern supplies. The South American supplier continues to benefit from a supply agreement with Washington and eased sanctions, which have broadened access to its crude oil for a wider range of customers. “India has rapidly become a key outlet for Venezuelan crude amid Middle East Gulf supply disruptions. While flows have surged, further upside is potentially constrained by limited heavy-crude processing capacity, with only a handful of refineries able to run grades like Merey-16,” said Benjamin Tang, head of liquid bulk at S&P Global Commodities at Sea(opens in a new tab). “Freight economics will also be critical, but structurally, India will look for opportunities to diversify purchases even further and can use diplomatic relationships to push that agenda.” India’s foreign ministry said in a statement June 2 that Rodríguez will visit India over June 3-7 and hold bilateral talks with Prime Minister Narendra Modi on energy flows, as well as mutual trade and investment opportunities. “India has been an important partner of Venezuela in the areas of energy and investment. Indian public sector undertakings have made significant investments in Venezuela in the energy sector, and they are keen to explore opportunities for further enhancing their presence,” the ministry said. Improving outlook CAS data showed June 3 that a tota