Citgo Petroleum Resumes Venezuelan Oil Imports Ending Six Year Processing Gap
Citgo Petroleum has purchased about 500,000 barrels of Venezuelan heavy crude for February delivery. This transaction ends a processing gap that has existed since 2019.
Insights:
Citgo Petroleum bought a cargo of about 500,000 barrels of Venezuelan heavy crude for February delivery from Trafigura. This purchase marks the first time Citgo has bought Venezuelan crude since access was cut in 2019, effectively ending a processing gap in the US 
US. The deal reflects a wider and recent normalization of oil flows from Venezuela 
VEto various international markets.
US. The deal reflects a wider and recent normalization of oil flows from Venezuela VEto various international markets.
