Venezuela's Oil Exports To The U.S. Jump 23% In November

Venezuela exported 742,535 barrels of crude daily to the United States in November, a 23-percent increase on October, but a 10.5-perent decline on November 2015, Reuters reports, based on data collected from trade flows. At the receiving end of Venezuelan crude, the unit of state-owned PDVSA, Citgo Petroleum, topped the list, followed Valero Energy, Phillips 66, and Chevron. Venezuela produces heavy crude that U.S. refineries need for blending with lighter grades to produce fuels and other oil products. More…