What US ‘blockade’ of Venezuela means to tanker markets
- Venezuela exported 956,075 bpd of crude and imported 134,177 bpd of clean products in November, according to Vortexa data
- Short-term impact on tanker markets is expected to be limited as global oil trade is very well-supplied
- In the long term, if US forces regime change and Venezuelan oil production rebounds, higher exports could be ‘extremely good’ for tanker market, says Frontline’s Lars Barstad
US pressure on Venezuela is not expected to have a major effect on tanker markets in the near future. The long-term ‘what if?’ for Venezuela’s oil business is more interesting
