Venezuela Turns to US Market as Oil Flows Surge
The shift marks a dramatic change in Venezuela’s oil trade. U.S.-bound shipments had already climbed to about 786,000 barrels per day in July, their highest level since early 2019, according to shipping data cited by Reuters. For U.S. Gulf Coast refiners, Venezuelan heavy crude offers an important source of feedstock as global energy markets face c
ontinued disruption. For Caracas, expanding access to the U.S. market could provide crucial revenue and support efforts to revive its long struggling oil industry. The growing flow of Venezuelan crude is reshaping energy ties between two countries whose relationship has long been defined by political confrontation.
