Venezuela Deal a Bit of a Sideshow for Oil, Sankey Says

Commentary highlights that US plans to control more than 65 billion barrels of Venezuelan oil are viewed as a “colossal problem” by Paul Sankey, with the core issue framed as insufficient global refining capacity. Sankey argues the lack of refining—not crude availability—may limit any near-term relief for diesel and broader fuel markets. Overall, the news is presented as a headwind for diesel supply tightness despite the scale of the oil control plan.