US Refiners Struggle with Venezuelan Oil Surge
The sudden influx of Venezuelan oil into the U.S. market is presenting a significant challenge for American refiners, who are finding it surprisingly difficult to absorb the increased supply. It’s almost as if this surge wasn’t entirely anticipated, leaving many in the industry scrambling to adapt.
The core of the issue seems to stem from the specific type of crude Venezuela offers – a heavy, sour variety. U.S. refineries, particularly those on the Gulf Coast, are indeed set up to process heavier grades, a fact that was often cited as a reason for seeking Venezuelan oil in the first place. However, it appears that even for those equipped, this particular crude is proving to be a beast to refine.… Continue reading
Matt Underwood