US Preparing to Lift Venezuela Sanctions with Chevron to Resume Oil Production WSJ Reports

The WSJ is reporting that the US administration is preparing to scale down sanctions on Venezuela. The move would allow Chevron to resume oil production in the country. Such a move could see a reopening of U.S. and European markets to oil exports from Venezuela. WSJ cites people familiar with the proposal. The move comes after OPEC+ agreed on a 2mbpd crude oil production cut at the October meeting Wednesday.  President Biden appears increasingly desperate after having sold the US … Continue reading “US Preparing to Lift Venezuela Sanctions with Chevron to Resume Oil Production WSJ Reports”