According to today’s EIA Weekly Petroleum Status Report (WPSR) for the week ended May 9, U.S. imports of Venezuelan crude surged to 588 Mb/d (far right of chart below), marking the highest weekly volume since January 2019. Venezuelan crude imports have trended steadily higher throughout much of 2026, as Gulf Coast refiners increased purchases of heavy sour barrels following the U.S.-Venezuela trade agreement announced earlier this year, alongside tightening global supply balances and ongoing disruptions in the Middle East.
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How’s It Going to Be – How a Prolonged Conflict with Iran Could Disrupt U.S. Gasoline, Jet and Diesel Markets
The U.S. is seeing softer domestic demand for traditional fuels, but pockets of the country remain highly dependent on imported gasoline, jet fuel and diesel. Today, we’ll zero in on which PADDs are at the highest risk for shortages and price spikes if the Iran war drags on for an extended period.
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Take Me Money and Run Venezuela – Venezuela’s Oil Industry Could Be Poised for a Rebound, But It Will Take Time
Venezuela took center stage last weekend when President Trump removed and arrested President Nicolás Maduro, putting a spotlight on the country’s oil resources and production. Today we take a deep dive into how we think the upheaval could reshape crude oil flows, price differentials, refining slates and export economics.
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When Love Comes to Town – Venezuelan Rebound Would Test Gulf Coast Refiners’ Affection for Canadian Crude
The evolving situation in Venezuela is rife with uncertainty. But as the outlook for Venezuelan crude oil improves, there are significant market issues at play as well, including the potential for renewed competition with Canadian heavy crudes along the U.S. Gulf Coast.
