India's Cost of Venezuelan Crude Rises as Discounts Shrink and Freight Surges

India has seen a rise in the cost of Venezuelan crude oil as the customary discounts offered by exporters have narrowed and freight charges have surged. The country, which imports a significant portion of its crude from Venezuela, now faces higher purchase prices per barrel. Shipping costs have climbed due to increased fuel prices and tighter maritime routes, adding to the overall expense. The combination of reduced discounts and higher freight is putting pressure on India’s oil import bill and could influence future procurement decisions.