Indian Refiners Scout Venezuela, Angola Crude as Red Sea Risks Rise

Indian refiners are scouting new crude sources. Regional conflict threatens supply from the Middle East. State-owned and private processors have contacted sellers in Venezuela and Angola, according to people familiar with the matter.

Attacks in the Red Sea have disrupted vital shipping lanes and pushed oil prices higher. Refiners are considering rerouting shipments around Africa to avoid the Suez Canal. The longer journey would significantly lengthen delivery times for crude from the Middle East.

The new grades from Venezuela and Angola are being tested. The shift is not yet visible in import data. Sourcing teams are already evaluating the alternatives, the people said.

Longer voyage times will raise freight costs and tighten tanker supply. Indian refiners are securing supply diversity as the risk of further disruptions remains.