Trade Giants Explore Venezuelan Crude Sales to Major Asian Buyers

Deep News01-12

Vitol Group and Trafigura Group have initiated discussions with major Asian refiners regarding the potential sale of Venezuelan crude. This development comes just days after the two trading giants received preliminary approval from the U.S. government to market the oil.

According to informed sources, the trading houses contacted key Asian buyers over the weekend. The individuals, who requested anonymity as they were not authorized to speak publicly, added that the talks are in very early stages and no formal offers have been presented yet.

These two leading global commodities traders are also engaging with U.S. refiners to gauge their purchasing interest.

Both Vitol and Trafigura declined to comment.

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