Texas imports of Venezuelan oil soar as war chokes off Middle East supply
· KRGV (NBC 5)
Imports of Venezuelan oil to Texas have significantly increased as Middle Eastern supplies have dwindled due to the ongoing Iran war. Since the U.S. took control of Venezuela's oil industry, imports rose from about 110,000 barrels per day in January to 575,000 barrels per day in June, marking the highest levels since 2018. Texas refineries have received 43% of these imports, with Louisiana receiving 39%. Analysts suggest that the closure of the Strait of Hormuz has created a demand for Venezuelan oil. However, production levels are expected to stabilize around 1.15 million barrels per day by 2027, requiring substantial investment for recovery.
AI summary · Source: KRGV (NBC 5) →
