Energy

US Grip on Venezuelan Oil Threatens Billions Owed to China - Bloomberg.com

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DW NOTE

China loaned Venezuela $60 billion between 2007 and 2016 in exchange for oil shipments. Now Washington controls who buys that oil and where the revenue goes. Beijing gets repaid only if the US allows it — which transforms sovereign debt into a hostage arrangement. The Iranian blockade pushed Brent to $95, making Venezuelan heavy crude worth extracting again, but the party cashing in isn't the party that funded the wells.

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Gulf Producers Find Workarounds As Hormuz Tensions Persist

Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

US Grip on Venezuelan Oil Threatens Billions Owed to China - Bloomberg.com

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