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Venezuelan Crude Exports Holding Up After Sanctions Waiver Expiration

OIL

Venezuelan crude oil exports held steady in May following the expiration of sanction waivers according to TankerTrackers.

  • It recorded exports at ~750kbd, up from just over 500kbd in April (the month sanctions were reimposed)
  • Half of the exports were done by Venezuela’s dark fleet in combination with AIS manipulation and Western insurance coverage TankerTrackers said.
  • Chinese independent refiners are the main buyers of the flows.

Source: TankerTrackers

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