America Supplies OPEC With Oil Freed From 40-Year Export Ban
- State oil company PDVSA uses imported crude for blending
- U.S. ended export restrictions last year after shale boom
Inside the Economic and Political Influences on Oil
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The U.S. is now supplying OPEC with crude oil, sort of.
Petroleos de Venezuela SA received a cargo of West Texas Intermediate crude at the end of January at a terminal on the island of Curacao, where PDVSA operates a refinery, according to two people familiar with the shipment. It was the first delivery since export restrictions on U.S. crude were lifted last year.