Now we tell you why India is buying so much oil from Venezuela. The biggest reason for this is that at this time, Venezuela’s crude oil is much cheaper compared to the oil available from many other countries. Since the Iran war, the prices of crude oil across the world have increased from $0 per barrel to around $5 per barrel.
Though processing Venezuela’s heavy crude oil is also much more difficult, some of our country’s modern refineries are such that they can easily refine this type of crude oil. This means that earlier India used to depend mainly on West Asia for oil, but now our country, instead of relying on just one region or a few countries, is adopting a strategy of buying oil from many countries so that due to any war or due to the closure of any route,
there is never any permanent impact on the supply of crude oil. And that is why, as we told you at the beginning, now we are buying our oil from 40 countries. The best thing is that India has already made it clear that whatever is in the interest of the people of India, we will deal with that country only, no matter which country it is. What is paramount for us is India’s interest.
Whoever gives us cheap oil, we will buy from them, whether it is America, Russia, any country of West Asia, or Venezuela. Now look, Marco Rubio, who is the Secretary of State of America, is coming to India and that too for three days. So let us tell you what he is coming to do. During his India visit, he will participate in the meeting of Quad Foreign Ministers in Delhi on May 26. You know Quad means Quadrilateral Security Dialogue. This is a strategic group of four countries which includes India, America, Japan, and Australia. The last meeting of Quad Foreign Ministers took place on July 1, 2025,
in Washington. A summit of Quad leaders was scheduled to be held in India in November 2025, but the summit could not take place then. It was scheduled to happen earlier in India, and at that time, due to tariffs, the relations between India and America were such that this Quad summit could not happen, and it also began to be said that perhaps the Quad might now become inactive.
However, currently, this summit of Quad Foreign Ministers is taking place in Delhi. After the Iran war, you can consider this meeting of Quad Foreign Ministers in India as a very big diplomatic signal, and by participating in it, Marco Rubio is trying to give the message that America is very serious about its relations with India. America gives importance to India, and through this meeting, India is also maintaining a balance with America and Russia.
