Venezuela enlists Iran in oil alliance

Interesting titbit of oil diplomacy news from the FT:

Venezuela has enlisted Iran’s help to steer its oil exports to China and away from its traditional US market.

A team of traders from Petroleos de Venezuela, the state-owned oil company, is to be trained in London by Iranian advisers in how to best place oil in Asian markets, people close to the industry say.

This looks like a perfect illustration of the trend mentioned in the Sunday Times piece I blogged under Power shift in the oil markets.






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