US sanctions on Venezuela’s oil sector have so far had modest global price impacts as crude production and refinery flows in the US and elsewhere adjust to the supply disruption, the head of the Energy Information Administration told Congress Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “We’re seeing that adjustments are being made,” EIA Administrator Linda Capuano told the Senate Energy and Natural Resources Committee. “While prices are changing modestly, things are happening.” Capuano said market observers should expect EIA to adjust its supply and demand forecasts in the monthly Short-Term Energy Outlook reports as the Venezuelan situation unfolds. The next STEO report is scheduled to be published February 12. US Gulf Coast refiners that have relied on Venezuelan imports are finding other sources of heavy crude, including Canada, Capuano said. Kevin Book, managing director of ClearView Energy Partners, told the […]