Venezuela Expands Oil Exports to India Using Larger Tankers After US Deal

Venezuela is increasing its crude oil exports to India using Very Large Crude Carriers (VLCCs) capable of transporting up to 2 million barrels per shipment, following a recent supply deal with the United States. Trading firms Vitol and Trafigura have chartered several VLCCs for March loading at Venezuela's Jose terminal, aiming to reduce transportation costs and accelerate deliveries. Indian refiners, including Reliance Industries, have resumed purchases of Venezuelan crude, with exports rising to around 800,000 barrels per day in January after US sanctions were eased.