Washington’s Venezuela Oil Deal Is About Much More Than Crude
Washington’s takeover of more than a fifth of Venezuela’s oil reserves in a deal officially signed by U.S. Energy Secretary Chris Wright on 2 September was as unexpected as it was dramatic, with President Donald Trump’s comment a few days earlier that it is “the biggest oil deal in world history” lo
Source: OilPrice.com
―
DW NOTE
Washington is shopping for oil in Caracas because the Strait of Hormuz has been effectively closed since February and Brent is trading at $96. When your primary supply choke point stops moving 85 ships a day, suddenly Maduro looks like a vendor rather than a pariah.