US Refineries Seek Venezuelan Crude Despite Domestic Production Surge
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US Refineries Seek Venezuelan Crude Despite Domestic Production Surge

Despite being the world's largest crude oil producer, the U.S. seeks Venezuelan crude due to refinery design. Many American refineries, particularly on the Gulf Coast, were built to process heavier, sour grades of oil, a type that is increasingly scarce globally. While Canada has become a primary supplier, Venezuelan output has declined, with much of its production redirected to Cuba and China. U.S. officials and industry representatives suggest private industry would be interested in Venezuelan crude if permitted.

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