With Russian oil increasingly off-limits, India is looking at alternatives. Venezuelan crude from Caracas is tempting for cost reasons, but turning that promise into profit depends on navigating complex supply chains, pricing, sanctions risk, and refinery compatibility. The real question is whether volumes and economics can align quickly enough to matter.
Venezuelans took to the streets again on Saturday in Caracas, drawing protesters from across society to call for an end to Nicolás Maduro’s 11-year presidency. The renewed unrest is driven by claims he tried to rig last week’s election and by concerns about an expanding crackdown on opposition supporters.
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A U.S. move in Caracas and plans to take control of Venezuela’s oil assets are reviving heavy crude exports. Because many U.S. refineries are already configured for Venezuelan grades, Canada could struggle to defend its market share. That pressure may hit Canadian oil revenues and in turn weigh on the Canadian dollar.
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