Chinese state-owned oil company PetroChina told its partners not to buy or trade Venezuelan crude oil ever since the U.S. took control of Venezuelan oil exports earlier this month, according to a report published by Reuters on Tuesday.
Reuters, citing two “trading executives familiar with the situation,” indicated that PetroChina’s decision is evidence that Venezuelan oil supply to China will remain “tight” and push Chinese buyers towards Canadian, Iranian, or Russian oil instead.
On Thursday, Reuters, citing an unnamed U.S. official, indicated in another report that the Trump administration would be allowing China to purchase Venezuelan oil…
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