Venezuela up until now was one of the leading global suppliers of heavy crude oil, keeping the coffers of President Nicolas Maduro flush with cash. With some of the richest deposits of oil in the world, it should be no
Venezuelan oil export loadings are strong so far in June. Russia, meanwhile, continues to bet on Nicolas Maduro’s success.
Sanciones en Contra de Venezuela Comienzan a Tener Efecto
Diplomacy intersects with energy sector concerns in Venezuela’s upheaval. Recognition of opposition leader Juan Guaido as the interim president of Venezuela by the United States, Canada and several right-leaning Latin American powers shows the tenure of Nicolas Maduro is under threat.
I was out on CNBC Asia last evening discussing the current situation in Venezuela, and its path back to energy. We discussed the crude flows leaving the country, where they are going, and how dependent Venezuela is on the flow of diluent into the country from the US.
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