Lates News

date
11/02/2026
India has asked state-owned refiners to consider buying more US and Venezuelan crude oil. Earlier, the Trump administration claimed that the trade agreement between the two countries included a commitment from India to stop importing Russian crude oil. Refinery executives familiar with the situation have stated that refiners have been urged to prioritize American crude oil when sourcing from the spot market through tenders. They added that the government has also made similar requests regarding Venezuelan crude oil, but these will be purchased through private negotiations with traders. Since Trump announced that India agreed to stop buying Russian crude oil as part of the trade agreement, India's oil purchases have been closely monitored and there has been no public response from New Delhi. India's consistent stance is that it is actively seeking energy source diversification and energy security remains a top priority. However, the amount of American and Venezuelan crude oil that Indian refiners can absorb is limited.