Venezuelan oil would boost US refiners, hurt Canadian producers

Core Viewpoint - A full-scale resumption of Venezuelan oil exports would benefit U.S. refiners by lowering their fuel production costs and allowing refineries to absorb most of the approximately 1 million barrels per day of oil [1] Group 1 - The resumption of Venezuelan oil exports is expected to significantly impact U.S. refiners positively [1] - Lower fuel production costs for U.S. refiners are anticipated as a result of increased oil supply from Venezuela [1] - U.S. refineries have the capacity to absorb a substantial portion of the Venezuelan oil, estimated at around 1 million barrels per day [1]