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Market Chatter: US Refineries Receive About Half of Venezuelan Oil Output

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US refineries are receiving more than 500,000 barrels per day of Venezuelan oil production, or about half of the country's current output, following an energy partnership agreed upon in January, Reuters reported Tuesday, citing US Under Secretary of Energy Kyle Haustveit.

Venezuelan production, currently averaging about 1.3 million barrels per day, is aided by more than 100,000 b/d of US naphtha being transported to serve as a diluent to heavy crude oil, Haustveit reportedly said at an event in Houston.

The US Department of Energy did not immediately respond to' request for comment.

Jovanny Martinez, executive vice president of Venezuela's state-owned PDVSA, said during the same event that the country's fuel output has grown 12.9% so far this year, boosting domestic supplies by around 5.4% and raising exports by 19.7%, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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