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Citgo Buys Venezuelan Oil for the First Time Since 2019 Sanctions
Market Intelligence Analysis
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Why This Matters
Citgo Petroleum has purchased Venezuelan oil for the first time since 2019 sanctions, marking a significant development in the oil market. This move comes as Citgo is being acquired by an affiliate of Elliott Investment Management to pay off PDVSA's debt. The purchase indicates a potential shift in U.S. policy towards Venezuela.
Market Impact
Market impact analysis based on bullish sentiment with 80% confidence.
Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Citgo Petroleum, the U.S.-based refiner formerly owned by Venezuela’s state oil firm PDVSA, has bought its first Venezuelan crude under U.S. control, anonymous sources with knowledge of the situation have told Reuters. Citgo, which is the seventh-largest refiner in the United States with a total capacity topping 800,000 barrels per day (bpd), is in the process of being acquired by an affiliate of Elliott Investment Management in a court-ordered auction to pay off PDVSA’s debt to creditors. Citgo was one of Venezuela’s top…
Original article published by
OilPrice.com
on January 29, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.