Reliance Share Price Today: RIL Hits 52-Week High After US Action in Venezuela; M-cap Nears 22 Lac Crore

Shares of Reliance Industries Ltd touched a fresh 52-week high on January 5th and rose by over 1% in early trade, as optimism grew around potential benefits from US involvement in Venezuela's oil sector. The stock climbed to a record high of Rs. 1,611.20 before erasing gains.

Reliance Industries share price today

Reliance Industries shares opened strong, 1.1% higher at Rs. 1593 apiece on the NSE in the morning session, and stayed in the positive zone through the first hour of trading. As of mid-morning trade, Reliance share price fell from the record high and was trading 0.04% lower at Rs. 1591.60 at the time of writing. The stock's market capitalisation is now nearing Rs. 22 lakh crore.

US action in Venezuela lifts oil-linked stocks

The main reason behind the rally in Reliance shares was heightened global attention after the US carried out a military operation in Venezuela, involving airstrikes and the capture of Venezuelan President Nicolás Maduro.

Because of this geopolitical turmoil, global oil prices edged higher, as Venezuela, being an OPEC member, could disrupt supply in the crude market.
According to brokerage firm Jefferies, Reliance Industries and Oil and Natural Gas Corporation (ONGC) could become the key beneficiaries if the US loosens sanctions on Venezuelan crude exports.

Jefferies, in its report quoted by NDTV Profit, stated, "A potential US takeover or oversight of Venezuelan oil operations could allow Reliance Industries to source crude oil at a discount of $5-8 per barrel to Brent, significantly boosting gross refining margins. Such a development would be positive for Reliance's oil-to-chemicals (O2C) business."

"Additionally, ONGC may receive nearly $500 million in unpaid dividends from its stake in the San Cristobal oilfield in Venezuela if sanctions are eased and payments resume."

Impact on global crude prices

While Jefferies expects insignificant near-term impact on global crude prices, medium-term risks still prevail. "This could weigh on crude prices in 2027-28, unless OPEC+ intervenes to balance the market," the brokerage said.

Lower crude prices could benefit oil-importing nations like India but may cap upside for upstream oil producers.

According to Trading Economics, "Markets are weighing the potential impact on regional crude supply, given that Venezuela holds the world's largest proven oil reserves. However, some analysts expect limited disruption, noting that Venezuela currently produces less than 1 million barrels of crude per day, accounting for under 1% of global output. Others warn that oil prices could rise later this year amid concerns that more aggressive US pressure on global adversaries, including Iran, may tighten supply conditions."

Brent crude fell 63%, to $60.366 a barrel. At the time of writing, U.S. WTI crude was trading lower by 0.70%, at $56.918 a barrel.

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