Venezuela’s Oil Revival Accelerates as U.S. Majors Push Trump’s New Energy Order
Following the Washington-led removal of Venezuela’s previous president, Nicolás Maduro, from office on 3 January this year, U.S. firms are pushing hard to keep increasing oil production from the hydrocarbons giant, in line with President Donald Trump’s grand plans for the country within his new worl
Source: OilPrice.com
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DW NOTE
U.S. oil majors are lobbying Trump to lift Venezuela sanctions while the Strait of Hormuz remains effectively closed and global supply is down 4.3 million barrels per day. The pitch is hemispheric energy security; the subtext is that someone else's dictatorship looks a lot more attractive when Persian Gulf barrels aren't flowing.