Trafigura, Vitol Expand Venezuelan Oil Sales to Asia as Iran War Disrupts Supply
Updated
Updated · Bloomberg · Jun 11
Trafigura, Vitol Expand Venezuelan Oil Sales to Asia as Iran War Disrupts Supply
3 articles · Updated · Bloomberg · Jun 11
Summary
Trafigura has offered Venezuela’s Merey 16 crude to South Korean refiners and recently delivered cargoes to a refinery in Malaysia, signaling a broader push into Asia.
Rising Venezuelan production is giving traders more barrels to place just as the Iran war roils Middle East supplies that normally compete in the region.
Vitol is also expanding sales efforts, adding to a shift that could help Asian refiners diversify feedstock away from disrupted Gulf flows.
The move underscores how conflict-driven supply shocks are reopening market space for Venezuelan crude in Asia despite the country’s long-standing export constraints.