Maduro: Venezuela Could Stop Crude Oil Sales To U.S.

30 Nov 2017   Venezuela

True to his ‘anti-imperialistic’ rhetoric, Venezuela’s embattled President Nicolas Maduro now says that his country could stop selling its crude oil to the United States. “The day that they don’t want us to sell them our oil, we are just picking up our stuff [and] we’ll sell all our oil in Asia. No big deal,” AFP quoted Maduro as saying on Tuesday, while he was formally installing General Manuel Quevedo to lead debt-stricken state oil producer PDVSA. According to OPEC’s secondary sources, Venezuela’s crude oil production was 1.863 million bpd in October, down by 43,600 bpd from September. While Venezuela has been desperately trying to stave off what most see as an inevitable default, its production has been progressively dropping every month this year. U.S. imports of crude oil from Venezuela have also been dropping in recent weeks, according to EIA data —in many weeks to below 500,000 bpd […]

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