Michael Burry Bets Big on Venezuelan Oil Revival, Boosts Refiner Stocks

• Michael Burry, "The Big Short" investor, is betting on a revival of Venezuela's oil sector, holding Valero Energy since 2020.
• US policy signals deeper involvement in Venezuela, whose heavy crude is ideal for Gulf Coast refineries, improving margins.
• Valero, PBF Energy, and HF Sinclair are seen as key beneficiaries, with Valero's stock already jumping 10%.
• Burry also sees potential for oilfield services like Halliburton, Schlumberger, and Baker Hughes to rebuild Venezuela's infrastructure.
• He notes a meaningful rebound will take years but may increase exposure via shares or long-term options (LEAPs).

Why It Matters: Burry sees US-backed Venezuelan oil revival driving profits for specialized refiners and infrastructure firms.