CNBC's Brian Sullivan says President Trump will "dial back" sanctions on Venezuela; says oil sales from Venezuela to U.S. will continue indefinitely instead of selling the oil to China; says U.S. will acquire more than 50 mln barrels of oil, the 50 mln barrels of oil was only the first tranche.
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This is not increasing the global oil supply. U.S. refiners will be able to process the increased amount of very heavy/sour crude oil from Venezuela.
Venezuela Oil coming to the U.S.
Venezuela Oil coming to the U.S.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Venezuela Oil coming to the U.S.
Secretary of War Pete Hegseth says "The United States continues to enforce the blockade against all dark fleet vessels illegally transporting Venezuelan oil to finance illicit activity, stealing from the Venezuelan people. Only legitimate and lawful energy commerce—as determined by the U.S.—will be permitted" on X
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group