- cross-posted to:
- europe@feddit.org
- cross-posted to:
- europe@feddit.org
US President Donald Trump said Friday that Russia had agreed to immediately supply more than 300,000 tonnes of diesel to US and global markets in an effort to cut fuel prices before November’s midterm elections. The move marks a stunning change of policy after the US and its allies hit Russia with waves of sanctions over its invasion of Ukraine.
Archived version: https://archive.is/newest/https://www.france24.com/en/europe/20261009-trump-strikes-diesel-deal-with-putin-reversing-years-of-pressure-on-russia-over-ukraine-war
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
venzeulan has heavy crude oil, which is very difficult to process, and apparently only chevron has the ability to do so, but its quite limited. so its almost practically useless. venzeulan president capture was all a distravtion anyways.
US refineries on the Gulf coast were designed and built specifically for heavy/sour crude, because at the time they were built Venezuela was the largest crude supplier to that coast. They now have to transport heavy crude down from Canadian oil sands because they aren’t set up for the light/sweet crude that has been found closer by more recently.
Venezuela isn’t outputting much crude because their government is so corrupt no international company trusts them with capital investments (except Chevron a little bit, as you mentioned), and they have run their domestic oil companies into the ground. If they could get their shit together, the US Gulf refineries would love to have more of their crude.