PDVSA’s El Palito refinery in Puerto Cabell
Venezuela’s limited oil sanctions relief
Washington’s move to ease restrictions on Caracas will likely have a more meaningful impact on US refiners than global crude markets
The US suspended selected sanctions on Venezuela on 18 October in response to the signing of an “electoral roadmap” between the Maduro government and the political opposition. Most observers are sceptical over how much of an impact the apparent rapprochement might have on the global oil markets, given the temporary nature of the sanctions relief and Venezuela’s degraded production capabilities. That is not to say the step will not move the dial for the US oil industry itself, which relies on heavier, sourer grades—typically from Canada—to blend with lighter, sweeter home-grown grades. So any extra flows from Venezuela—a traditional supplier of crude to its North American neighbour—will certa
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
