US fuel makers are boosting purchases of crude from Venezuela to the highest in more than a year, making good on the Trump administration’s goal of taking more crude from the country as the Iran war reshuffles global oil flows.
Imports of Venezuelan heavy crude doubled in the week leading up to March 13, reaching the highest since late 2024, according to US government data released Wednesday. Oil shipments from Venezuela, Mexico, Brazil, Colombia and Ecuador rose by more than a million barrels a day collectively over the same period. Additionally, Saudi Arabian imports rose by almost 200,000 barrels daily ...
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