Indian refiners take Venezuelan oil as U.S. reshapes flows

The article reports the U.S. tapped Vitol Group and Trafigura Group to market Venezuelan oil, and the article mentions Reliance Industries Ltd. recently acquired a cargo after pausing trade when U.S. sanctions waivers expired.

Indian refiners are resuming purchases of Venezuelan crude after a pause last year. The article reports the U.S. government has asserted control over parts of Venezuela's energy industry. It says the Trump administration tapped Vitol Group and Trafigura Group to market Venezuelan oil. The article mentions Reliance Industries Ltd. recently acquired a cargo. Key facts: - The article reports U.S. officials tapped Vitol Group and Trafigura Group to market Venezuelan oil. - The article mentions Reliance Industries Ltd. purchased a cargo, returning to the trade after pausing when U.S. sanctions waivers expired. - Several Indian refiners are reported to be taking Venezuelan oil as U.S. actions have reshaped trade flows. Summary: These developments have shifted crude supply flows for some Indian refiners and involved major trading firms. Undetermined at this time.