US Gulf Coast refiners are increasingly turning to Middle Eastern and South American oil to make up for the loss of Venezuelan and Mexican crude supplies. This shift comes after the US revoked licenses for Venezuelan oil imports in March and as Mexican output faces production and quality issues, leading to record-low imports of Mexico's Maya crude. To compensate, refiners have ramped up imports from Colombia, Brazil, Guyana, and the Middle East, reaching multi-year highs. However, this workaround may be temporary, as the US government is considering new authorizations that could allow some Venezuelan oil to return to the market, potentially restoring the preferred supply of heavy crude for Gulf Coast refineries.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-14939935/US-Gulf-refiners-seek-MidEast-S-American-oil-offset-Venezuela-Mexico-losses.html
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