Economics
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’
This article is for subscribers only.
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.