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India could cut fuel import bill by $3 billion by switching to Venezuelan crude: SBI Report
The Economic Times· 2026-02-04 03:18
The report highlighted that reducing Also Read: White House claims India "committed" to stop Russian oil purchase, will buy from US under trade dealIt noted that a discount of USD 10-12 per barrel on Venezuelan crude would be sufficient to make the choice economically neutral for Indian importers.SBI said "India's fuel import bill could even decline by USD 3bn in the event of shifting to Venezuela...discount of USD 10-12 could make the choice agnostic".Live EventsThe report states this benefit would materi ...