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U.S. nears massive deal for Venezuelan oil fields, Rory Johnston notes

U.S. nears massive deal for Venezuelan oil fields, Rory Johnston notes
U.S. eyes deal for Venezuelan oil

Rory Johnston raises attention to a report from Axios indicating that the U.S. is close to securing a significant deal involving Venezuelan oil fields. He questions the mechanics of how national oil reserves operate in response to the news.

Johnston's remarks highlight skepticism about the feasibility or typical structure of such international oil agreements.

Johnston recently noted that the U.S. diesel crack spread rose to $89 per barrel while Brent crude traded at $87, making diesel twice the price of crude oil in the report “U.S. diesel crack spread at $89 per barrel”. In another update, he observed that Chinese crude imports have yet to recover to prewar levels, with the rebound characterized as tentative and volatile. These earlier comments provide additional context to his latest remarks on the proposed Venezuelan oil deal.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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