U.S. Ban May Offer China and India Feast of Cheap Venezuelan Oil


U.S. Ban May Offer China and India Feast of Cheap Venezuelan Oil

A possible move by Donald Trump to hurt Venezuela’s oil industry could prove a shot in the arm for the Xi Jinping and Narendra Modi administrations.

If the U.S. decides to deploy a slate of sanctions that it’s said to have drafted against the Latin American nation, American refiners — the No. 1 consumer of Venezuelan crude exports — would be forced to cease purchases. That may mean more supply becomes available for the OPEC producer’s other big customers: China and India.

The opportunity to soak up the extra supplies from Venezuela at potentially cheap prices would be a boon for the Asian countries, where the governments are trying to support slowing economic growth.

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