Venezuelan crude exports could drop sharply as US-Venezuela tensions escalate following the seizure of an oil tanker in the South American country’s waters, an energy consultancy said.
About 30% of the country’s oil exports, transported in a shadow fleet of sanctioned ships, are at risk if the US continues to enforce sanctions, according to a Wednesday report from Rapidan Energy Group. That accounts for about 300,000 barrels a day.
The US military