Chinese traders trying their luck with sanctioned Venezuelan oil

Officially, China hasn’t imported any Venezuelan crude since September after Washington sanctioned state entities including PDVSA. Information from data intelligence firm Kpler, however, signals the Asian nation is still buying, with as much as 3.3 MMbbl waiting off the Chinese coast as of June 15 and another 5 MMbbl en route to the port of Qingdao. More »