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Tankers Filled With Venezuelan Oil Are Parked in Gulf of Mexico

  • Oil tankers have been heading to U.S. for most of January
  • Chevron says it has crude on the water, ‘contingency plans’
Gas Stations As U.S. Sanctions State-Owned PDVSA
Photographer: Carlos Becerra/Bloomberg
Updated on

The Gulf of Mexico is turning into a parking lot for Venezuelan crude, as the U.S. sanctions on Petroleos de Venezuela SA essentially stop the flow of oil from the Latin America country.

Tankers holding about 6 million barrels of Venezuelan oil are floating in the U.S. Gulf Coast or heading there, according to data from cargo-tracking and intelligence company Kpler.