Overview
- Crisil Ratings said the recent Venezuela developments are not expected to materially affect India’s trade or the credit quality of Indian companies.
- With Venezuela supplying about 1.5% of global crude, any disruption there is unlikely to cause sustained turbulence in oil prices.
- Brent crude has stayed largely steady in recent days, hovering just above $60 a barrel.
- India’s exposure is small, with Venezuelan imports under 0.25% of total imports and roughly 1% of India’s crude needs in FY2025, mostly crude and allied products worth about Rs 14,000 crore.
- Crisil noted that investment to revive Venezuela’s vast reserves could lift global supply and soften prices over time, and it will continue to monitor the situation.