Xin Lang Cai Jing·2026-01-05 03:52Core Viewpoint - The rising geopolitical risks in Venezuela are supporting oil transportation demand during the off-peak season, as indicated by Changjiang Securities' research report [1][2]. Group 1: Company Performance - Zhongyuan Shipping (中远海能) shares have increased by 3.62%, reaching HKD 10.02, with a trading volume of HKD 70.86 million [1][2]. Group 2: Market Dynamics - Venezuela's oil exports are expected to be 700,000 barrels per day in 2024, accounting for 1.8% of global oil exports, primarily to China and the United States [1][2]. - The recent U.S. actions against Venezuela have temporarily halted its oil exports, although there has been no significant damage to the state-owned oil company PDVSA's facilities [1][2]. - The disruption in Venezuelan exports may lead to tighter heavy oil supply in China and the U.S., prompting increased imports of heavy crude oil from Middle Eastern and Latin American countries, thereby raising compliant oil transportation demand [1][2]. Group 3: Long-term Outlook - Venezuela is characterized as a country with high reserves but low production, holding 19% of global oil reserves while contributing only 1.3% to global production [1][2]. - Former President Trump has indicated a strong intervention in Venezuela's oil industry, which could potentially increase the demand for Venezuelan oil along long-distance routes to the Far East, reshaping trade patterns [1][2].