New Delhi: Amid the ongoing global energy crisis, and rising LPG and fuel prices in India, Russian crude supply to India is expected to decline in light of the latest 30-day waiver extension by the United States, reports suggest.According to a Business Standard report, oil from Russia to India exceeded 2 million barrels per day (bpd) for four of the last 10 weeks, of which the Eurasian country had loaded 1.8 million bpd in April, and 1.6 million bpd in March.However, in May, the load dropped sharply to below 700,000 bpd due to uncertainty over US sanctions. Per the report, while the Donald Trump administration’s latest waiver appears like a relief, local refiners say that it may not help them much, given the change in sanction terms.The new order, dated May 18, states that “sale, delivery, or offloading of crude oil or petroleum products of Russian Federation origin loaded on any vessel, including vessels blocked under the above-listed authorities, on or before 12:01 am April 17.2026, are authorised through 12:01 am June 17.2026.”Some officials told the daily that most of the cargo loaded on April 17 has already been sold in anticipation of renewed sanctions as the previous exemption ended on May 17. Previous exemptions, they further noted, also carried forward the loading date by a month, which in this case would have been May 17, and not April 17 – the previous date.Overall, the volume of India’s imports of crude oil fell 4.3% in April, amid the continuing closure of the Strait of Hormuz due to the US-Israeli war on Iran, while the value of imports soared about 50% over the comparable period last year, according to provisional government data, The Hindu reported. Meanwhile, Economic Times reported that Venezuela emerged as the third-largest supplier of crude to India in the month of May, surpassing Saudi Arabia and the US. It is reportedly due to Indian refiners, like Reliance Industries, seeking more cost-effective, heavy crude options that Venezuela has. However, the news also comes amid Rubio’s unusual announcement of the Venezuela president’s upcoming travel to India, amid the US’s push for more crude purchase from the South American country.Also read: All You Need to Know About How the US Is Controlling Venezuelan OilVenezuela, ET reported, has supplied 417,000 bpd to India so far this month, up from 283,000 bpd in April and zero supplies in the previous nine months. Oil companies deny fuel shortageExperts have warned that public sector oil marketing companies may continue to raise petrol and diesel prices to cover for losses led by persistently high crude oil prices, unless the government checks it, given the inflationary concerns in mind.Amidst this, leading oil company IndianOil dismissed the indications of a pressure.“Fuel supplies across IndianOil’s retail network remain stable. IndianOil has not issued any instructions for rationing of fuels at retail outlets, and supply operations across the country continue smoothly,” read a statement from IndianOil, ascribing the increase in demand to higher diesel consumption during the harvesting season.They further claimed that the demand pressure was also due to a “shift of customers to IndianOil retail outlets owing to comparatively lower prices than private retailers”.Oil India, on the other hand, praised government interventions in infrastructure and allocation. The company’s chairman and managing director Ranjit Rath told The Hindu that it is set to amp up their production immensely.