No immediate impact seen on India’s oil supplies, prices

Developments in Venezuela are unlikely to immediately impact India's oil supplies or prices, as Venezuelan crude has been largely absent from global markets due to US sanctions. While bilateral engagement has weakened, experts suggest India could diversify its sources if Venezuelan oil re-enters the market, potentially offering a sentimental impact on emerging market currencies.To begin with, the US-led sanctions on Venezuela have meant that oil flowing into the global markets, including India, has come dow ...