Texas imports of Venezuelan oil soar as war chokes off Middle East supply
· KRGV (NBC 5)
Texas has seen a significant increase in Venezuelan oil imports, rising from about 110,000 barrels per day in January to 575,000 barrels per day by June. This surge follows the U.S. takeover of Venezuela's oil industry amid declining imports from the Middle East due to the Iran war. Currently, 43% of Venezuelan oil imports are directed to Texas refineries, with the remainder going to Louisiana, Mississippi, and Delaware. Analysts predict that while production is expected to stabilize around 1.15 million barrels per day by 2027, the impact of recent earthquakes in Venezuela could affect future oil production and revenue.
AI summary · Source: KRGV (NBC 5) →
