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The Economic Times

Economy / The Economic Times

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Reliance Industries buys 2 million barrels of Venezuelan oil, traders say

Reliance Industries has made a bold move by purchasing two million barrels of oil from Venezuela, marking their first foray into the Venezuelan market in nearly a year. The acquisition, facilitated by the trading company Vitol, ensures supply for April delivery, at a competitive discount relative to ICE Brent prices.

5 Feb 2026 5:46 pm