Reliance Industries has bought its first cargo of Venezuelan crude since 2023 from Chevron, Reuters has reported, citing shipping data, amid growing appetite from Indian refiners for non-Russian oil supply. That appetite was prompted by U.S. pressure on the Indian government to reduce its imports of Russian crude—or face higher tariffs. Reliance Industries, India’s largest refiner, received a license to buy and sell Venezuelan crude from the United States federal government earlier this month. Reliance was the biggest single buyer of…
