Action removes a key obstacle to bringing Russian gas to Europe.
The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse.
Even for the leanest, meanest oil and gas producer sitting on the best assets in the land, fate hinges on the nature of the recovery.
Russia is taking a leaf out of the U.S. shale playbook so it can ramp up oil production quickly and hang on to its share of the global market when demand finally recovers after the coronavirus pandemic.
Trump insists the trade deal with China is intact after the trader adviser said it was ‘over.’
Despite price collapse, China is pursuing energy security.
US claims that the oil-for-food deal didn’t deliver food for the Venezuelan people.
OPEC and allies, known as OPEC+, have been cutting output since May by a record 9.7 million bbl/d—or 10% of global supply—after oil demand plunged by up to a third.