Venezuela

• holds the largest crude reserves in the world
• blends its tarry extra heavy crudes with lighter crude or naphtha to make it transportable (pipeline)

Though “forward selling” of crops is common in other Latin American countries like Brazil, the practice is new and growing in Venezuela, local agricultural experts said.^{1) 2)}

The heavy, sour crude #oil produced in #Venezuela has been in short supply and has had significant price increases in recent months.