China’s Imports of Venezuelan Oil Set to Crumble
Market Intelligence Analysis
AI-PoweredChina's imports of Venezuelan oil are expected to significantly decrease in February due to the US blockade, with estimated deliveries at 166,000 barrels per day, a sharp decline from previous levels.
Market impact analysis based on bearish sentiment with 90% confidence.
Article Context
China is expected to see a plunge in imports of oil from Venezuela in February as the now month-long U.S. blockade has prevented many China-bound cargoes from leaving Venezuelan waters. The deliveries of crude and fuel oil from Venezuela to China in February are estimated at just 166,000 barrels per day, as just 5 million barrels of Venezuelan crude and fuel oil have managed to leave the South American country in recent weeks, analysts and traders tell Reuters. To compare, Venezuela’s exports of combined crude and fuel oil…
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