Texas is set to receive Venezuelan crude oil, with shipments possibly arriving next week after President Trump announced that Caracas will transfer up to 50 million barrels worth approximately $2.8 billion. The Gulf Coast’s refineries, designed for heavy oil, stand to benefit from this influx, enhancing operational efficiency and potentially lowering fuel prices for consumers. This development may intensify competition between Venezuelan and Canadian heavy crude, further benefiting U.S. refiners.
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