US refiners struggle to absorb sudden surge in Venezuelan oil imports
February 3, 2026
(BOE Report) – Oil refiners on the U.S. Gulf Coast are struggling to absorb a rapid surge in Venezuelan crude shipments since last month’s flagship $2 billion supply deal between Caracas and Washington, pressuring prices and leaving some volumes unsold, according to traders and shipping data. The soft U.S. demand represents an early obstacle for President Donald Trump’s hopes of
