Venezuela Increases Large-Scale Oil Shipments to India Following US Deal

Venezuela is increasing its crude oil exports to India by chartering Very Large Crude Carriers (VLCCs) capable of transporting up to 2 million barrels per shipment. This shift follows a recent supply deal between Venezuela and the United States, easing previous sanctions and enabling larger shipments from Venezuela's Jose terminal, operated by PDVSA. Trading firms Vitol and Trafigura are involved in these exports, which are expected to reduce transportation costs and accelerate deliveries starting March, marking a rebound in Venezuela-India oil trade.