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Iranian Crude to Venezuela Set to Rise in July

OIL

Venezuela's state-run oil company PDVSA is set to receive 4 million barrels of Iranian Heavy crude this month, an increase from 1.07 million barrels imported in June and a volume similar to May according to documents seen by Reuters.

  • The cargoes are expected to arrive in Venezuela's Jose port by the end of the month on Iran-flagged supertankers Herby and Serena.
  • Venezuela is using the crude oil to boost production at its ailing refineries and free domestic oil for exports.

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