Venezuelan crude flows shift under evolving sanctions landscape

Venezuela’s crude oil exports continue to respond to shifting geopolitical pressures, with sanctions, international partnerships, and infrastructure limitations all shaping trade patterns.

Wood Mackenzie’s latest Venezuelan Crude Platform Insight examines how these factors are influencing export volumes, destination markets, and supply

This report covers:

• Export volumes and destination trends, with a focus on the role of Petrozuata and Bajo Grande
• The evolving impact of US sanctions since 2017 and their implications for global crude flows
• PDVSA’s reorientation toward Asian markets and the role of China, Iran, and Malaysia
  

It also explores market adjustments and freight cost dynamics amid logistical challenges, along with the outlook for US Gulf Coast refiners and potential shifts in global heavy crude sourcing.

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