Comment by terminalshort
4 days ago
China isn't giving up any barrels of oil. It's a global market. If Venezuela is selling 5 million bbl per day to China, and it stops selling to China, someone else will start buying it. Since they are now buying 5 million bbl per day from Venezuela, that means they are buying 5 million bbl / day less from their existing suppliers. China will buy that oil.