India's Reliance in talks for US permit to buy Venezuelan oil, sources say

Core Viewpoint - Reliance Industries is seeking U.S. approval to resume purchases of Venezuelan crude oil, indicating a strategic move to secure oil supplies amid changing geopolitical dynamics [1] Group 1: Company Actions - Reliance Industries is a private refiner actively pursuing the resumption of Venezuelan crude oil purchases [1] - The company is looking to secure oil supplies, which may reflect its broader strategy to enhance its refining operations and meet domestic demand [1] Group 2: Industry Context - The move by Reliance Industries comes as the global oil market experiences fluctuations, and companies are exploring various sources to ensure stable supply chains [1] - Resuming purchases from Venezuela could signify a shift in the industry's approach to sourcing crude oil, particularly in light of U.S. sanctions and geopolitical considerations [1]