Venezuelan Oil Stored at Sea Shields China as US Pressure Rises
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A hoard of Venezuelan crude on tankers at sea will provide a cushion for Chinese refiners — the biggest buyers — should the US escalate hostilities against the OPEC producer and disrupt exports.The volume of oil stored on ships is just over 20 million barrels, the highest in more than three years and an increase from around 18 million barrels earlier this month, according to data compiled by Kpler. Many of the tankers are in Asian waters, making it easier for refiners to access.