Venezuelan crude exports heading to US

The easing of US sanctions has seen nearly a quarter of Venezuelan crude head to the US in the first four months of 2023 in a dramatic shift for tanker trading patterns in the western hemisphere.

Eni, Repsol given green signal to export Venezuelan oil

European giants Repsol and Eni are now allowed to export oil from Venezuela, as the US is easing a restriction on its oil exports as payment for debt. The decision comes amid a tight oil market – especially for the grade of heavy crude Venezuela produces. The US State Department is reversing its earlier position