Oil prices have had the strongest start to the year in recorded history, but economic data looks set to put an end to that rally. Oil was down a few days ago, but is set to close out the week with another gain, pushing WTI and Brent close to their highest level in three months. Citgo severs ties with PDVSA. Citgo completed its breakup with PDVSA, cutting off a crucial stream of revenue for the Venezuelan government. The opposition, led by self-proclaimed president Juan Guaidó, hopes to obtain control of Citgo and its resources, which would provide the new government with a revenue base. Recent data from Kpler and the WSJ suggests that Venezuela’s oil exports have only declined to about 1.1 mb/d, evidence that […]