Platts launches assessments of Merey 16 DAP USGC

Platts, part of S&P Global Energy, has launched daily assessments for Venezuela's Merey 16 crude on a DAP USGC basis, effective March 31.

The assessment reflects the value of waterborne Merey 16 crude delivering 30-60 days forward, on a DAP basis along the US Gulf Coast.

The typical cargo size is 500,000 barrels.

The Merey 16 assessment is published as an outright price, as well as differentials to the Latin America Dated Brent strip, Latin America Brent Futures strip and Latin America WTI strip, which align with a 30-60-day delivery window.

The new symbols for the assessments are as follows:

Merey 16 crude has a typical API gravity of 16 degrees and sulfur content of 3.4%.

S&P Global Energy analysts expect Venezuelan crude production to average 845,000 barrels/day, and USGC imports to increase by 360,000 b/d to 530,000 b/d in 2026.

In the absence of bids, offers and trades for Merey 16, Platts may assess the crude based on spreads to comparable grades. Platts may also use market information provided on a FOB basis to inform this DAP assessment.

Platts' assessments reflect non-sanctioned material. Bids and offers that contain statements surrounding the delivery of embargoed or sanctioned materials will be reviewed by Platts for publication and may be subject to normalization in value.

The new assessments will be available on the Platts Global Alert and Platts Crude Oil Alert pages 280 and 281. They will be published in Crude Oil Marketwire, Latin American Wire and Oilgram Price Report.

Please send any comments or feedback to americas_crude@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make those not marked as confidential available upon request.