Following a six-month easing of sanctions by Washington on Venezuelan oil, the country's oil exports fell for October, and signs of political interference are now threatening to reverse the sanctions deal
Following a six-month easing of sanctions by Washington on Venezuelan oil, the country’s oil exports fell for October, and signs of political interference are now threatening to reverse the sanctions deal. According to Reuters, Venezuela’s October exports dropped by 19% to fewer than 700,000 barrels per day in October, after exporting over 8210,000 bpd in September, based on data from state-run oil company PDVSA and tanker tracking.
Just prior to the Supreme Court’s decision, Venezuelan President Nicolas Maduro had called the vote a “fraud”, according to Bloomberg. Washington is now closely watching what happens next. In the meantime, the market is still waiting to see how long it might take for Venezuelan oil output to recover, with October in decline.
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