- India, major buyer of illicit oil, pivots to US crude
- US has become top crude exporter since Ukraine war began
One major beneficiary of sanctions on Russian and Venezuelan oil? US suppliers who’ve muscled their way into markets once dominated by OPEC and its allies.
US oil exports have set five new monthly records since Western nations began imposing sanctions on Russia in 2022. And with trade restrictions on Venezuela set to renew in April, American barrels are beginning to displace sanctioned crude in India, one of the biggest buyers of illicit oil.
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