Vitol Steps Up Venezuela Oil Buying Before US License Lapses
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Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a US license that allows the world’s largest independent oil trader to do business in the sanctioned nation.
Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than doubled buying in April compared with March, when it took 1 million barrels, the data shows. Vitol’s license to operate in Venezuela hasn’t been previously reported.