Venezuelan Crude Imports Help Mitigate US Gas Price Increases, Says Chevron Executive
Chevron executive Andy Walz stated that Venezuelan crude oil imports are helping to moderate US gas prices, which have risen to $4.17 per gallon. The US imports 400,000 barrels of Venezuelan crude daily, which is processed into gasoline and other products at Chevron's Mississippi refinery. The higher price of Brent crude, currently at $110 per barrel, is a major factor in rising gas prices.
Tickers: $CVX
Topics: Chevron gas_prices oil_prices US_energy_policy Venezuela