NewsHK
Energy markets have grown accustomed to measuring Venezuelan output against its potential, a gap that has persisted across multiple commodity cycles. The physical constraint has sharpened.
Venezuela's port infrastructure is currently unable to keep pace with rising export demand, meaning the country's ability to lift shipments is being held back by logistics as much as by anything upstream.
The sector-wide read-through is familiar. Production that exists on paper but cannot reach a terminal does not move prices or supply balances in any meaningful way.
When infrastructure lags a demand cycle, expected volume relief does not materialise on the schedule that headline output figures suggest, and buyers exposed to Venezuelan crude carry more uncertainty than the numbers alone imply.
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