• The US intervention in Venezuela — from removing Venezuelan President Nicolás Maduro from power to seizing oil tankers — also touches on the South American country’s supply chains with the US government planning to direct the sale of an initial 30 million to 50 million barrels of crude oil, which will come to the US for use in Gulf Coast refineries. Venezuela’s heavy, high-sulfur crude oil exports have fallen over the past 20 years owing to a mixture of sanctions and under-investment, and its position in global supply chains has equally been eroded during that time. We look at what ...