Venezuela's oil cradle pins hopes on US energy deals - RFI
Venezuela's oil cradle pins hopes on US energy deals - RFI
Source: RFI
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DW NOTE
Venezuela has been under US sanctions since 2019. The oil cradle they're referencing — the Maracaibo Basin — has lost roughly 75% of its production capacity since Chávez nationalised the sector in 2007. Now they're hoping the Americans will come back and fix what two decades of resource nationalism broke. The US doesn't need Venezuelan heavy crude anymore — it produces 13 million barrels a day domestically and has better options in the Gulf if Hormuz ever reopens.