Foreign media: Due to a deal between the US and Venezuela, Venezuela will export crude oil to the US, which may cause China's independent refineries to lose their supply of cheap heavy crude oil from Venezuela.
China imported 389,000 barrels per day of crude oil from Venezuela in 2025, accounting for 4% of its maritime crude oil imports. Currently, Venezuela's crude oil shipments are sufficient to meet about 75 days of China's demand, but future supplies will be restricted.
Chinese independent refineries may turn to Russia and Iran's crude oil supplies in March and April. Iranian heavy crude oil, due to its low price (a discount of about $10 per barrel compared to ICE Brent crude), has become the preferred alternative. China can also import crude oil from non-sanctioned countries such as Canada, Brazil, Iraq, and Colombia.
US military captures the President of Venezuela
Original: toutiao.com/article/1853674094182400/
Statement: This article represents the views of the author himself.