US-Venezuela Oil Deal: 65B Barrels Reshape Global Supply Routes
The announced U.S. majority control of 65 billion barrels of Venezuelan oil reserves could more than double U.S. reserves and redirect crude sourcing away from the embattled Strait of Hormuz. With Hormuz transits down from roughly 100 ships per day to a handful, supply chain managers face a potentially major reconfiguration of tanker routes, port throughput, and refining feedstocks.