Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US sanctions on Venezuela on humanitarian grounds could pump Caribbean-loading cargoes into the Aframax and Suezmax markets, reviving the traditional local and long-haul Caribbean-loading routes. Uncertainty on the Biden administration’s approach to sanctioned oil-producing countries leaves the Americas dirty tanker market awaiting signals reversing previous administration policies. The sanctions on Venezuela, issued in a series of six Executive Orders, effectively blocked all commercial transactions and property pertaining to the government of Venezuela. This suspended roughly 500,000 b/d of Venezuelan crude exports to US Gulf Coast refineries and shut down US exports of diluents to lighten Venezuela’s extra heavy crude oil production in the Orinoco Belt, significantly impacting […]