India and Venezuela moved to deepen energy cooperation on Thursday as global oil supplies face disruption from the Middle East crisis. The talks highlighted Venezuela’s growing importance to India’s energy security strategy amid concerns over supply routes. The development matters for global energy markets and major oil-consuming economies facing uncertainty.
Venezuelan interim President Delcy Rodriguez met Indian Prime Minister Narendra Modi in New Delhi during a high-level visit. Officials from both countries discussed cooperation in upstream and downstream energy projects. India said Venezuela considers it a preferred partner in the energy sector and expressed interest in expanding collaboration.
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The discussions come as India seeks to diversify crude oil imports following disruptions linked to the Gulf crisis. The Strait of Hormuz, a key route for global energy shipments, has faced significant disruptions, prompting India to explore alternative suppliers. As the world’s third-largest oil importer, India is looking to strengthen long-term energy security through broader sourcing strategies.
Venezuela has emerged as a major supplier to India in recent months. India imported about 427,000 barrels per day of Venezuelan crude in May, making it the country’s second-largest buyer after the United States. Reliance Industries has become one of the leading purchasers of Venezuelan oil as trade between the two countries expands.
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Rodriguez’s visit, which runs through June 7, also includes meetings with Indian energy executives and visits to refining facilities. Beyond oil, both sides discussed opportunities in trade, investment, mining, pharmaceuticals and critical minerals. The engagement reflects efforts by both countries to broaden economic cooperation while reinforcing energy ties during a period of global market uncertainty.