Venezuela Won’t Have Enough Oil To Export By 2019 [IMG] Platts...

Venezuela Won’t Have Enough Oil To Export By 2019



Platts reported this week that Venezuela has already warned eight international customers that it wouldn’t be able to meet its crude oil commitments to them in June. Venezuela’s state oil company PDVSA is contractually obligated to supply 1.495 million barrels per day to those customers in June, but only has 694,000 barrels per day available for export.

But if the GlobalData forecast is correct, then the temporary interruption of Venezuela’s exports may be permanent, as they will be plunging toward zero by the end of the year.

https://oilprice.com/Energy/Energy-General/Venezuela-Wont-Have-Enough-Oil-To-Export-By-2019.html

This is moving faster than anyone can possibly imagine. It’s going to come to a head shortly nd when it does, look out.