PDVSA Faces Pricing Pressure as Tanker Seizure Disrupts Crude Flows

Venezuela’s state oil company PDVSA is facing wider crude discounts, stuck cargoes, and growing pressure from buyers to rewrite trading terms after the United States seized a tanker carrying Venezuelan oil, traders and sources told Reuters. The seizure of the very large crude carrier Skipper near Venezuela’s coast last week marked Washington’s first interception of a tanker transporting Venezuelan crude. The move came alongside new U.S. sanctions on six vessels and their associated companies, tightening the screws on President…