US Refiners Can Still Absorb More Venezuelan Oil

By Marianna Parraga

HOUSTON, June 12 (Reuters) – U.S. refiners can still absorb more Venezuelan crude, Energy Secretary Chris Wright said on Friday, as the South American country’s output bounces following the U.S. capture of President Nicolas Maduro in January and facilities on the Gulf Coast make adjustments to process higher volumes of heavy oil. 

Venezuela is sending about half of its total exports of 1.25 million barrels a day to the U.S., with the remaining volumes going mainly to India and Europe, according to figures based on tanker monitoring. Wright said the exports are expected to increase in the coming months.

The country’s oil ministry