Overview
- At least seven crude carriers reversed course or loitered rather than call at Venezuela, according to Bloomberg tracking on Friday.
- OFAC named four tankers—Nord Star, Lunar Tide, Rosalind, and Della—and their ownership companies as blocked property, expanding the sanctions net.
- With ships avoiding loadings, Venezuela’s storage is filling, forcing PDVSA to shut in wells and driving a 25% drop in Orinoco output versus mid-December readings by Dec. 29.
- U.S. authorities have seized two oil tankers and carried out lethal strikes on suspected drug-smuggling boats, actions Venezuela rejects as illegal and UN experts say violate international law.
- Chevron continues lifting Venezuelan crude under a U.S. license as broader shipping and insurance caution deepens the chill on the country’s exports.