Mexico’s crude exports have fallen from around 1.1 million b/d in 2020 to 503,000 b/d in December 2025 – the lowest level in the 21st century, while production has declined far less, signalling a shif

Chevron, the only U.S. oil company currently active in Venezuela, operates a high-capacity refinery in Pascagoula, Mississippi capable of processing 369,000 barrels per day of heavy crude. Chevron also operates two refineries in El Segundo and Richmond, California configured to process heavy crude oil with capacity of 515,000 barrels per day.

The country could, eventually, attract investment and re-emerge as a force in the oil markets, but many analysts are concerned about an oversupply.

The world is still processing the nighttime raid on Venezuela by  U.S. forces on Saturday, capturing President Nicolás Maduro and his wife, and flying them to New York to face narcoterrorism and drug conspiracy charges.

Reliance Industries said on Tuesday it is not expecting any Russian crude oil deliveries in January, a move that could sharply cut India's Russian oil imports during the month to the lowest in years.

Initially targeted by April 2025 and subsequently pushed back to yearend-2025, a return to normal operations at the 157,000-b/d dual-coking refinery in Martinez, Calif. has

A full-scale resumption of Venezuelan oil exports would benefit refiners in the United States and lower their fuel production costs, with the refineries capable of absorbing most of the roughly 1 million barrels per day of crude that would trade freely if U.

U.S. crude fell more than 1% on Wednesday after U.S. President Donald Trump said Venezuela will be "turning over" 30 million to 50 million barrels of sanctioned oil to the United States.