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Trump Understands That the US Needs Venezuelan Oil ...Middle East
Venezuela has the largest proven oil reserves on Earth, but its energy prowess is as much about quality as quantity. Refineries on the US Gulf Coast process Venezuelan crude by the hundreds of thousands of barrels per day. Volumes hit a six-year high in December, according to Kpler, reaching approximately 300 kbd – a 150 kbd year-on-year increase. The Gulf Coast, or PADD 3, is crucial to the United States’ energy supremacy. If flows of Venezuelan crude to the region were disrupted, refiners like Chevron and Valero would have to shift…
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