Why Chevron Is Sending Ships?
Chevron — operating under a special licence from the U.S. Treasury — has become the primary, and nearly only, exporter of Venezuelan crude oil under the current sanctions regime.
The fleet represents an uptick from nine tankers in December and is close to recent highs seen last year.
Oil Flow Amid Tensions?
Despite intense enforcement, Chevron has continued shipments of Venezuelan oil to the U.S. Gulf Coast, including resuming exports after a recent pause.
This keeps at least some production flowing while many sanctioned vessels avoid international waters.