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The correct permission required to grant high-volume portal users access to records is the permission to customize the application. This permission allows administrators to manage users, configure settings, and define data access. In the context of high-volume portal users, this means that they will need specific configurations set up to ensure they can access the relevant records appropriately.

The ability to customize the application includes managing user profile settings and permissions, which ultimately dictates how records are shared and accessed within the portal environment. This ensures that high-volume portal users can interact with the necessary data while maintaining the necessary controls around data visibility and access.

Other permissions like Modify All Data or View All Data are more general and provide broader access than what's needed specifically for portal users. API Enabled is primarily related to allowing integration with external applications rather than defining user access rights within the portal. Thus, the ability to customize application settings is key to effectively managing and granting appropriate access to high-volume portal users.