Venezuela is producing approximately 900,000 barrels per day (kbd) of crude oil and condensate, which makes up about 1% of the global oil supply. (AI image) US President Donald Trump’s latest escalation in tensions and blockade of Venezuela oil tankers may have little impact on the global crude oil market, believes global real-time data and…
US President Donald Trump announced Tuesday he is ordering a naval blockade of sanctioned oil tankers entering Venezuela, intensifying military pressure on Venezuelan leader Nicolas Maduro following last week’s US seizure of an oil tanker off Venezuela’s coast and amid an ongoing military buildup in the region.Trump made the announcement on his social media platform,…
The United States on Thursday imposed new sanctions on Venezuela, targeting three nephews of President Nicolas Maduro’s wife, along with six crude oil tankers and associated shipping companies. The action coincided with a large-scale US military buildup in the southern Caribbean and President Donald Trump’s campaign for Maduro’s ouster. On Wednesday Trump said the US…