[NautiNurse]

Sorry about the messy post. Second paragraph should be:

The biggest buyer of Venezuelan oil in June was China, as
usual, either directly or via transshipments in Malaysia. Iran
also received several cargoes under a swap deal it has with
Venezuela, with both countries under U.S. sanctions on their
exports. Iran received Venezuelan crude and fuel oil, while
Venezuela imported Iranian condensate.

[woodbutcher1963]

This means and has been the case for decades that Venezuela does not have the refining technology to turn their heavy sulfur crude oil into anything but #2 heating oil and diesel.

This is why the US gulf refineries for years bought Venezuela crude. The refineries in TX/LA are the best in the world. They are also the most efficient/productive. They are better at breaking down petroleum than any other place in the world.
They also have excess capacity. Which was the reason Keystone II was destined to bring heavy sulfur Alberta crude there.

This is also why the USA continues to IMPORT crude from around the world. They then EXPORT petroleum distillates that are worth 3x(or more) the cost of that same barrel of oil. Thereby, improving our trade deficit.