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Chinese refiners expected to replace Venezuelan oil with Iranian crude, traders say

MARKET
07-01-2026 22:22 HKT
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Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas. (AFP)
Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas. (AFP)
ChineserefinersVenezuelanoilIraniancrude

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