Oil industry analysts expect China to replace its oil imports from Venezuela with increased purchases of Iranian crude, following the arrest of China’s ally Nicolás Maduro by U.S. forces over the weekend.
President Donald Trump announced on Tuesday that Maduro’s successor, interim president Delcy Rodríguez, and other Venezuelan officials have agreed to sell up to $2 billion in crude oil to the United States. The deal would divert oil coveted by China to U.S. refineries.
Secretary of State Marco Rubio reportedly told U.S. lawmakers that Venezuela has filled every available tanker and storage facility with crude oil, frustrated by Trump’s…
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