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

Core Insights - Chinese independent refiners are anticipated to shift towards heavy crude oil sources, including Iran, to compensate for the loss of Venezuelan shipments that have been disrupted following the U.S. government's actions against Venezuela's leadership [1] Group 1 - The transition to heavy crude is a strategic response to geopolitical changes affecting oil supply chains [1] - The reliance on Iranian crude indicates a potential shift in sourcing strategies among Chinese refiners [1] - The halt of Venezuelan shipments is a significant factor driving this change in procurement [1]