New Delhi, Jan. 6 -- The resurgence of geopolitical tensions between the United States and Venezuela is unlikely to pose any significant risk to India's oil security or trade position, according to a research note by Bank of Baroda.

The report noted that despite Venezuela holding a substantial share of global crude oil reserves, its current contribution to global oil supply remains limited: "Venezuela's share in global oil production, CY24, has been only 1 per cent amounting to 960 Million Barrels per day (MBPD)," the report said, adding that "in terms of disruption of global oil supply it poses no immediate risk."

While Venezuela accounts for a large portion of global reserves, the report highlights that supply-side constraints limit n...