Chinese oil buyers have reduced their intake of Venezuelan oil as the discount between Brent and the country’s flagship Merey crude shrank from $15 per barrel last month to $13 per barrel, Bloomberg reported today, citing unnamed sources. The price rise of Venezuelan oil follows the U.S. naval blockade that has disrupted tanker traffic to and from Venezuela, and that is not about to be lifted anytime soon, as stated earlier this week by Secretary of State Marco Rubio. “We continue with that quarantine, and we expect to see that there…
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