Chinese oil buyers have decreased their intake of Venezuelan oil as the discount between Brent and Merey crude fell from $15 to $13 per barrel. The U.S. naval blockade has disrupted tanker traffic, leading PDVSA to consider shutting down 15% of its production due to storage issues. Despite this, tankers continue to leave Venezuela with crude oil, including shipments to China.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue