Refiners Bypass Oil Traders for Direct Venezuelan Crude Purchases
Global refiners are increasingly bypassing oil traders like Vitol and Trafigura to buy Venezuelan crude directly from PDVSA, shifting market dynamics. This trend is driven by new supply contracts signed with state-run Petróleos de Venezuela S.A., reducing the dominance of trading houses that had previously held a monopoly due to U.S.-issued licenses.
Topics: commodity trading oil refiners Venezuela