Category: Crude Oil
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Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change
Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change As Venezuela faces a regime change, the country’s production recovery is staring at a decade-long timeline despite near-term supply gains, according to Wood Mackenzie, an energy intelligence group, which believes that additional Venezuelan barrels could pressure Brent prices below mid-to high $50 per…
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US order sets date for Chevron to grind oil exports from Venezuela to a halt
US order sets date for Chevron to grind oil exports from Venezuela to a halt Chevron has been given a 30-day deadline to bring a wind-down of its crude oil production and exports in Venezuela to an end, as its previous license has been revoked by the U.S. Treasury Department’s Office of Foreign Assets Control…