Return of Venezuelan crude could cut US fuel oil imports

Core Viewpoint - U.S. demand for imported fuel oil is expected to decline this year as refiners increase their intake of heavy Venezuelan crude, leading to a rise in domestically produced fuel oil that can be converted into higher-value products [1] Industry Summary - The shift in U.S. fuel oil demand is attributed to refiners capitalizing on new supplies of heavy Venezuelan crude [1] - Increased domestic production of fuel oil is anticipated, which will allow for the processing into more valuable refined products [1]