Venezuela Oil Sanctions Lift? Cheaper Fuel for India Ahead!

• Venezuela holds the world's largest crude oil reserves (304 billion barrels), surpassing Saudi Arabia and Russia.
• US sanctions on Venezuela's oil may be lifted, potentially resuming large-scale crude exports and attracting international attention.
• Lifting sanctions could allow Indian companies like Reliance to purchase Venezuelan oil at $5-$8 per barrel cheaper.
• Reviving Venezuela's collapsed oil sector requires significant investment, estimated at $10 billion annually for the next decade.
• Increased Venezuelan production could lead to a global crude oil surplus, potentially dropping Brent crude below $60 per barrel by 2026, benefiting oil-importing nations like India.

Why It Matters: Lifting US sanctions on Venezuela's vast oil reserves could lead to cheaper global oil, significantly benefiting India.