Venezuelan crude redirection to the US: A net positive for crude tankers – Drewry | 09/01/26

Drewry’s analysis indicates that in 2025 most Venezuelan crude exports went to Asia with only a limited volume bound for the United States, but a near-complete redirection of these flows toward the U.S. market —if Washington manages Venezuelan oil assets while maintaining an embargo on other exports— would significantly affect maritime transport. This shift would materially reduce long-haul tanker demand because shipments to the U.S. Gulf Coast are shorter, yet Venezuelan barrels would move from shadow fleets into mainstream commercial channels, supporting utilization and earnings for conventional tankers. The impact on demand for medium-size tankers and very large crude carriers (VLCCs) will depend on which other crudes are displaced in the U.S. market or reassigned to Asian routes. Link to Article