Sudden Influx of Venezuelan Fuel Oil Shaking Up Asian Markets
- US eased sanctions on South American nation in October
- Nearly 6 million barrels of fuel arrived in region last month
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A flotilla of supertankers laden with Venezuelan fuel oil is threatening to shake up Asian energy markets, less than two months after the US eased sanctions on the South American nation.
Three Very Large Crude Carriers — capable of hauling up to 2 million barrels each — offloaded cargoes of the sludgy and sulfurous oil product in Southeast Asia in November, according to fixtures and Bloomberg ship-tracking data.