Energy

Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High

Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that exports to the United States during that month increased. July exports to Venezuela’s biggest oil destin

Source: OilPrice.com

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DW NOTE

Venezuela shipped more oil to the U.S. than at any time since 2018, yet total export volumes fell. The gap is Chinese demand. Beijing bought 560,000 barrels a day from Caracas in 2023; that flow has reversed as China locks in discounted Russian crude under long-term contracts. Washington's sanctions relief opened a corridor, but it only rerouted a shrinking pie.

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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