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Latin Times
Latin Times
Politics
Pedro Camacho

Indian Refiners Shut Out of Venezuelan Crude as U.S. Absorbs Most Volumes: 'Offers Are Not There'

Venezuela Oil Donald Trump Nicolás Maduro Vitol Trafigura Washington D.C. United States The United States
Oil facility of Venezuela's state oil company PDVSA (Credit: Reuters)

Indian oil refiners are receiving only limited offers of Venezuelan crude as most available supply is being directed to the United States following Washington's takeover of Venezuelan oil sales after the capture of former president Nicolás Maduro, according to four refining executives cited in a report by Reuters.

Trading houses Trafigura and Vitol began marketing Venezuelan oil this month after an agreement between Caracas and Washington gave the U.S. control over roughly 50 million barrels of crude, with proceeds placed in a U.S.-supervised fund.

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